TIM (NYSE:TIMB) Shares Gap Up After Dividend Announcement

Tim S.A. (NYSE:TIMB - Get Free Report) gapped up before the market opened on Tuesday following a dividend announcement from the company. The stock had previously closed at $13.54, but opened at $14.33. TIM shares last traded at $14.33, with a volume of 48,376 shares.

The newly announced 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 1.87%. The ex-dividend date of this dividend is Friday, February 21st. TIM's dividend payout ratio (DPR) is currently 56.35%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TIMB shares. UBS Group downgraded shares of TIM from a "buy" rating to a "neutral" rating in a research note on Monday, December 9th. The Goldman Sachs Group decreased their price target on TIM from $16.20 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Scotiabank cut their price objective on TIM from $23.20 to $17.60 and set a "sector outperform" rating for the company in a report on Wednesday. Finally, Barclays lowered their target price on shares of TIM from $17.50 to $15.50 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th.

TIM Price Performance

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 company's 50 day moving average is $12.62 and its 200-day moving average is $14.47. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 0.60 and a beta of 0.84.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a net margin of 12.71% and a return on equity of 11.73%. Equities research analysts anticipate that Tim S.A. will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On TIM

Several institutional investors and hedge funds have recently made changes to their positions in TIMB. State Street Corp boosted its stake in TIM by 16.7% in the 3rd quarter. State Street Corp now owns 583,724 shares of the company's stock valued at $10,207,000 after purchasing an additional 83,468 shares during the period. Stifel Financial Corp lifted its holdings in shares of TIM by 1.0% during the third quarter. Stifel Financial Corp now owns 85,050 shares of the company's stock worth $1,465,000 after buying an additional 822 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of TIM in the third quarter valued at about $215,000. Meritage Portfolio Management acquired a new position in shares of TIM in the third quarter valued at about $3,683,000. Finally, Public Employees Retirement System of Ohio bought a new position in TIM during the third quarter worth about $1,089,000.

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.