Barclays Cuts TIM (NYSE:TIMB) Price Target to $17.50

TIM (NYSE:TIMB - Free Report) had its target price trimmed by Barclays from $18.00 to $17.50 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Separately, Scotiabank cut their price target on shares of TIM from $24.80 to $23.20 and set a "sector outperform" rating on the stock in a report on Tuesday, November 5th.

TIM Stock Performance

Shares of TIMB traded down $0.04 during mid-day trading on Tuesday, hitting $14.31. 584,139 shares of the company's stock were exchanged, compared to its average volume of 477,889. TIM has a 52 week low of $13.74 and a 52 week high of $19.14. The stock's 50-day simple moving average is $15.80 and its 200-day simple moving average is $15.70. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.59 and a beta of 0.89. The company has a quick ratio of 0.85, a current ratio of 0.97 and a debt-to-equity ratio of 0.52.

TIM (NYSE:TIMB - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.09). TIM had a net margin of 12.71% and a return on equity of 11.73%. The business had revenue of $1.16 billion for the quarter. On average, equities research analysts expect that TIM will post 1.27 EPS for the current year.

TIM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Monday, September 30th were paid a dividend of $0.088 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.35 dividend on an annualized basis and a yield of 2.46%. TIM's payout ratio is currently 26.19%.

Institutional Trading of TIM

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP grew its stake in shares of TIM by 22.8% in the first quarter. Quantbot Technologies LP now owns 23,585 shares of the company's stock valued at $419,000 after acquiring an additional 4,378 shares in the last quarter. Headlands Technologies LLC purchased a new position in TIM in the first quarter worth $59,000. QRG Capital Management Inc. bought a new stake in shares of TIM in the first quarter valued at $196,000. US Bancorp DE raised its stake in shares of TIM by 814.4% during the 1st quarter. US Bancorp DE now owns 22,943 shares of the company's stock valued at $407,000 after purchasing an additional 20,434 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in TIM during the first quarter worth about $54,000.

About TIM

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.