TIM (NYSE:TIMB) Downgraded to “Neutral” Rating by UBS Group

UBS Group downgraded shares of TIM (NYSE:TIMB) from a buy rating to a neutral rating in a report released on Monday morning, MarketBeat reports.

A number of other research analysts also recently commented on the company. Barclays lowered their target price on TIM from $18.00 to $17.50 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Scotiabank dropped their price target on TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a research report on Tuesday, November 5th.

TIM Stock Performance

NYSE:TIMB opened at $12.77 on Monday. The stock has a 50-day moving average price of $14.67 and a 200 day moving average price of $15.27. 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 has a 12-month low of $12.60 and a 12-month high of $19.14. The stock has a market capitalization of $6.18 billion, a P/E ratio of 10.13, a P/E/G ratio of 0.59 and a beta of 0.84.

TIM (NYSE:TIMB) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). TIM had a net margin of 12.71% and a return on equity of 11.73%. The company had revenue of $1.16 billion during the quarter. Equities research analysts forecast that TIM will post 1.2 EPS for the current fiscal year.

TIM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th were issued a $0.088 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.35 annualized dividend and a dividend yield of 2.76%. TIM’s dividend payout ratio (DPR) is presently 26.19%.

Hedge Funds Weigh In On TIM

Several hedge funds have recently added to or reduced their stakes in TIMB. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of TIM during the third quarter valued at approximately $12,054,000. Crossmark Global Holdings Inc. bought a new stake in TIM during the 2nd quarter valued at about $8,818,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in TIM by 137.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock worth $12,187,000 after acquiring an additional 409,992 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of TIM by 55.8% during the third quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock worth $18,485,000 after acquiring an additional 384,500 shares during the period. Finally, Meritage Portfolio Management purchased a new stake in shares of TIM in the third quarter valued at approximately $3,683,000.

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.