TIM (NYSE:TIMB) Given New $17.50 Price Target at Barclays

TIM (NYSE:TIMB) had its price target lowered by equities researchers at Barclays from $18.00 to $17.50 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 23.89% from the company’s previous close.

Separately, Scotiabank cut 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.

TIM Stock Down 1.2 %

NYSE TIMB opened at $14.13 on Tuesday. TIM has a twelve month low of $13.74 and a twelve month high of $19.14. The stock has a fifty day simple moving average of $15.77 and a 200-day simple moving average of $15.68. 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 (NYSE:TIMB) last announced its earnings results 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 company had revenue of $1.16 billion for the quarter. TIM had a return on equity of 11.73% and a net margin of 12.71%. On average, sell-side analysts expect that TIM will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in TIM by 108.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock valued at $25,000 after purchasing an additional 835 shares during the period. CWM LLC boosted its stake in shares of TIM by 105.7% in the 2nd quarter. CWM LLC now owns 2,471 shares of the company’s stock valued at $35,000 after buying an additional 1,270 shares during the period. SageView Advisory Group LLC acquired a new position in shares of TIM during the first quarter worth about $54,000. Headlands Technologies LLC purchased a new stake in shares of TIM during the first quarter worth approximately $59,000. Finally, Blue Trust Inc. raised its holdings in TIM by 298.2% in 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.

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.