Point72 Asset Management L.P. Purchases 30,482 Shares of Tim S.A. (NYSE:TIMB)

Point72 Asset Management L.P. grew its stake in shares of Tim S.A. (NYSE:TIMB) by 57.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,543 shares of the company’s stock after acquiring an additional 30,482 shares during the quarter. Point72 Asset Management L.P.’s holdings in TIM were worth $1,439,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TIMB. CWM LLC increased its holdings in shares of TIM by 105.7% during the second quarter. CWM LLC now owns 2,471 shares of the company’s stock valued at $35,000 after acquiring an additional 1,270 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of TIM by 25.2% during the second quarter. QRG Capital Management Inc. now owns 13,796 shares of the company’s stock valued at $198,000 after acquiring an additional 2,780 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of TIM by 298.2% during the second quarter. Blue Trust Inc. now owns 6,973 shares of the company’s stock valued at $100,000 after acquiring an additional 5,222 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in TIM by 10.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 119,298 shares of the company’s stock valued at $1,708,000 after buying an additional 11,150 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in TIM by 15.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 36,413 shares of the company’s stock valued at $521,000 after buying an additional 4,899 shares during the last quarter.

TIM Trading Up 2.1 %

TIM stock opened at $13.05 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. Tim S.A. has a 12 month low of $12.60 and a 12 month high of $19.14. The stock’s 50 day simple moving average is $14.58 and its two-hundred day simple moving average is $15.25. The firm has a market cap of $6.32 billion, a PE ratio of 10.33, a P/E/G ratio of 0.59 and a beta of 0.84.

TIM (NYSE:TIMB) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.09). TIM had a return on equity of 11.73% and a net margin of 12.71%. The company had revenue of $1.16 billion during the quarter. Analysts anticipate that Tim S.A. will post 1.2 earnings per share for the current year.

TIM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th were given a $0.088 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.35 annualized dividend and a yield of 2.70%. TIM’s dividend payout ratio is presently 26.19%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TIMB. Barclays dropped their target price on TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Scotiabank dropped their target price on TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, UBS Group lowered TIM from a “buy” rating to a “neutral” rating in a research report on Monday.

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.