The Goldman Sachs Group Cuts TIM (NYSE:TIMB) Price Target to $14.00

TIM (NYSE:TIMB) had its price objective lowered by The Goldman Sachs Group from $16.20 to $14.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Scotiabank reduced their price objective on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a research report on Tuesday, November 5th. Barclays decreased their price target on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Finally, UBS Group cut shares of TIM from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th.

TIM Stock Performance

TIM stock opened at $12.23 on Thursday. The business’s 50-day moving average price is $13.92 and its two-hundred day moving average price is $15.05. TIM has a 12-month low of $11.76 and a 12-month high of $19.14. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. The stock has a market cap of $5.92 billion, a PE ratio of 9.71, a P/E/G ratio of 0.57 and a beta of 0.84.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.09). The business had revenue of $1.16 billion during the quarter. TIM had a return on equity of 11.73% and a net margin of 12.71%. As a group, analysts expect that TIM will post 1.2 earnings per share for the current fiscal year.

TIM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.1723 per share. This is an increase from TIM’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.69 annualized dividend and a yield of 5.63%. TIM’s dividend payout ratio is presently 53.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIMB. Renaissance Technologies LLC lifted its position in TIM by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,364,048 shares of the company’s stock valued at $19,533,000 after acquiring an additional 142,862 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of TIM by 55.8% in the third quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock valued at $18,485,000 after purchasing an additional 384,500 shares in the last quarter. Millennium Management LLC boosted its position in shares of TIM by 16.0% during the second quarter. Millennium Management LLC now owns 923,532 shares of the company’s stock valued at $13,225,000 after buying an additional 127,465 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in TIM by 137.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock worth $12,187,000 after buying an additional 409,992 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in TIM in the 3rd quarter valued at $12,054,000.

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.