TIM (NYSE:TIMB) Shares Gap Up Following Better-Than-Expected Earnings

TIM S.A. Sponsored ADR (NYSE:TIMB) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $25.22, but opened at $27.00. TIM shares last traded at $27.3160, with a volume of 102,262 shares.

The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. TIM had a return on equity of 15.72% and a net margin of 15.35%.The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.30 billion.

TIM Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, January 7th. Investors of record on Monday, December 29th were given a dividend of $0.6784 per share. The ex-dividend date of this dividend was Monday, December 29th. TIM’s dividend payout ratio is 96.58%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Scotiabank reissued a “sector perform” rating and set a $23.60 price objective on shares of TIM in a research note on Wednesday, November 5th. Jefferies Financial Group cut TIM from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of TIM in a research report on Monday, December 29th. Barclays raised their price objective on TIM from $21.00 to $23.50 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Finally, Citigroup lowered shares of TIM from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, TIM has a consensus rating of “Hold” and a consensus target price of $23.25.

Institutional Trading of TIM

A number of hedge funds have recently made changes to their positions in TIMB. Global Retirement Partners LLC increased its stake in shares of TIM by 5,590.5% in the third quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock worth $27,000 after buying an additional 1,174 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in TIM during the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in shares of TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after purchasing an additional 1,345 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of TIM by 303.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,064 shares of the company’s stock worth $42,000 after purchasing an additional 1,552 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of TIM in the 2nd quarter valued at about $42,000.

TIM Stock Up 7.8%

The firm has a market cap of $13.17 billion, a P/E ratio of 18.66, a PEG ratio of 0.78 and a beta of 0.47. The firm’s 50-day moving average price is $21.70 and its 200 day moving average price is $21.62. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.96 and a quick ratio of 0.94.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA