Scotiabank Issues Pessimistic Forecast for TIM (NYSE:TIMB) Stock Price

TIM (NYSE:TIMB) had its price target dropped by research analysts at Scotiabank from $23.20 to $17.60 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 16.52% from the company’s current price.

TIMB has been the subject of a number of other reports. UBS Group downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Barclays dropped their price objective on shares of TIM from $17.50 to $15.50 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group decreased their price objective on TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th.

TIM Stock Up 0.8 %

Shares of TIMB opened at $15.11 on Wednesday. The company has a market capitalization of $7.31 billion, a P/E ratio of 11.99, a PEG ratio of 0.60 and a beta of 0.84. TIM has a one year low of $11.32 and a one year high of $19.14. The business’s 50 day simple moving average is $12.62 and its 200-day simple moving average is $14.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93.

TIM (NYSE:TIMB) last announced its earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a return on equity of 11.73% and a net margin of 12.71%. As a group, sell-side analysts predict that TIM will post 1.16 EPS for the current fiscal year.

Institutional Trading of TIM

Several institutional investors and hedge funds have recently made changes to their positions in TIMB. Arrowstreet Capital Limited Partnership increased its stake in TIM by 8.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,932,973 shares of the company’s stock valued at $22,732,000 after purchasing an additional 152,061 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of TIM by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,718,588 shares of the company’s stock valued at $20,211,000 after buying an additional 283,002 shares during the period. Itau Unibanco Holding S.A. increased its position in shares of TIM by 55.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock valued at $18,485,000 after buying an additional 384,500 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of TIM by 2.3% in the 4th quarter. JPMorgan Chase & Co. now owns 829,841 shares of the company’s stock valued at $9,759,000 after buying an additional 18,970 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in TIM by 137.7% during the 3rd 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 during the period.

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.