TIM (NYSE:TIMB) Cut to “C+” at TheStreet

TheStreet lowered shares of TIM (NYSE:TIMB – Get Rating) from a b rating to a c+ rating in a research note released on Tuesday morning, TheStreetRatingsTable reports.

Separately, Citigroup initiated coverage on shares of TIM in a research report on Monday, April 18th. They set a buy rating on the stock.

NYSE:TIMB opened at $12.13 on Tuesday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.04 and a beta of 0.73. The company’s 50 day moving average price is $13.64 and its 200-day moving average price is $12.96. TIM has a 52 week low of $9.81 and a 52 week high of $15.61. The company has a quick ratio of 1.53, a current ratio of 1.56 and a debt-to-equity ratio of 0.47.

TIM (NYSE:TIMB – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. The company had revenue of $904.79 million for the quarter, compared to the consensus estimate of $1.02 billion. TIM had a net margin of 16.66% and a return on equity of 9.35%. As a group, sell-side analysts anticipate that TIM will post 0.71 earnings per share for the current year.

The firm also recently declared a Variable dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Monday, June 27th will be given a $0.0822 dividend. The ex-dividend date is Friday, June 24th. This represents a yield of 2.77%. TIM’s payout ratio is presently 29.17%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in TIM by 50.7% in the first quarter. Bank of America Corp DE now owns 4,050,800 shares of the company’s stock worth $58,738,000 after acquiring an additional 1,362,421 shares during the period. JPMorgan Chase & Co. raised its position in TIM by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,299,796 shares of the company’s stock worth $15,129,000 after acquiring an additional 14,117 shares during the period. Itau Unibanco Holding S.A. raised its position in TIM by 75.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 807,953 shares of the company’s stock worth $9,369,000 after acquiring an additional 346,292 shares during the period. SPX Equities Gestao de Recursos Ltda raised its position in shares of TIM by 14.5% during the 1st quarter. SPX Equities Gestao de Recursos Ltda now owns 762,336 shares of the company’s stock valued at $11,054,000 after purchasing an additional 96,543 shares during the period. Finally, Covalis Capital LLP bought a new stake in shares of TIM during the 4th quarter valued at $7,924,000. Institutional investors and hedge funds own 5.02% of the company’s stock.

TIM Company Profile (Get Rating)

TIM SA operates as a telecommunications company in Brazil. The company provides mobile voice and data services, broadband internet access, value-added services, and other telecommunications services and products. It also offers fixed-line ultra-broadband and TIM Live services, as well as WTTx technology through Ultrafibra services and IoT solutions.

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