Barclays Cuts TIM (NYSE:TIMB) Price Target to $15.50

TIM (NYSE:TIMB - Get Free Report) had its price objective dropped by research analysts at Barclays from $17.50 to $15.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential upside of 33.28% from the company's previous close.

Several other brokerages have also recently commented on TIMB. UBS Group cut TIM from a "buy" rating to a "neutral" rating in a report on Monday, December 9th. Scotiabank lowered their price objective on shares of TIM from $24.80 to $23.20 and set a "sector outperform" rating for the company in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group reduced their target price on shares of TIM from $16.20 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th.

TIM Stock Performance

TIMB stock traded up $0.14 during midday trading on Tuesday, hitting $11.63. The stock had a trading volume of 337,367 shares, compared to its average volume of 499,833. TIM has a 52 week low of $11.32 and a 52 week high of $19.14. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $12.88 and a 200 day simple moving average of $14.70. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.57 and a beta of 0.83.

TIM (NYSE:TIMB - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.09). The business had revenue of $1.16 billion during the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. As a group, equities research analysts anticipate that TIM will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On TIM

Several hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp grew its stake in shares of TIM by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 85,050 shares of the company's stock worth $1,465,000 after acquiring an additional 822 shares in the last quarter. State Street Corp lifted its stake in shares of TIM by 16.7% during the 3rd quarter. State Street Corp now owns 583,724 shares of the company's stock worth $10,207,000 after buying an additional 83,468 shares during the last quarter. Meritage Portfolio Management acquired a new stake in TIM during the third quarter worth approximately $3,683,000. Public Employees Retirement System of Ohio bought a new stake in TIM in the 3rd quarter valued at $1,089,000. Finally, Millennium Management LLC grew its stake in shares of TIM by 16.0% in the second quarter. Millennium Management LLC now owns 923,532 shares of the company's stock valued at $13,225,000 after acquiring an additional 127,465 shares in the last quarter.

TIM Company Profile

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.