TIM (NYSE:TIMB) Shares Gap Down - Here's Why

Shares of Tim S.A. (NYSE:TIMB - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $14.89, but opened at $14.00. TIM shares last traded at $14.01, with a volume of 148,817 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group lowered TIM from a "buy" rating to a "neutral" rating in a research report on Monday, December 9th. The Goldman Sachs Group cut their target price on TIM from $16.20 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Barclays lifted their price target on shares of TIM from $15.50 to $16.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 18th. Finally, Scotiabank cut their price objective on shares of TIM from $23.20 to $17.60 and set a "sector outperform" rating for the company in a research note on Wednesday, February 12th.

TIM Trading Down 2.8 %

The company has a market capitalization of $6.67 billion, a PE ratio of 11.68, a P/E/G ratio of 0.67 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. The firm's 50 day moving average is $13.10 and its 200 day moving average is $14.41.

TIM (NYSE:TIMB - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). TIM had a net margin of 12.24% and a return on equity of 11.91%. As a group, equities analysts predict that Tim S.A. will post 1.34 EPS for the current year.

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TIM Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Friday, February 21st will be given a dividend of $0.0717 per share. This represents a $0.29 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, February 21st. TIM's payout ratio is currently 51.69%.

Institutional Investors Weigh In On TIM

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its stake in TIM by 16.7% in the third quarter. State Street Corp now owns 583,724 shares of the company's stock worth $10,207,000 after purchasing an additional 83,468 shares during the period. Stifel Financial Corp grew its holdings in TIM by 1.0% in the third quarter. Stifel Financial Corp now owns 85,050 shares of the company's stock worth $1,465,000 after purchasing an additional 822 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of TIM by 13.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 132,198 shares of the company's stock valued at $1,555,000 after purchasing an additional 16,000 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of TIM during the third quarter valued at approximately $215,000. Finally, Meritage Portfolio Management purchased a new position in shares of TIM during the third quarter valued at approximately $3,683,000.

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.