Citigroup Initiates Coverage on TIM (NYSE:TIMB)

Equities research analysts at Citigroup started coverage on shares of TIM (NYSE:TIMB) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating on the stock.

TIMB has been the topic of a number of other research reports. Barclays increased their price objective on TIM from $17.50 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Scotiabank increased their price objective on TIM from $19.10 to $23.60 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. HSBC downgraded TIM to a “hold” rating in a report on Friday, June 13th. JPMorgan Chase & Co. increased their price objective on TIM from $22.00 to $24.50 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, Hsbc Global Res downgraded TIM from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 12th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.25.

TIM Price Performance

Shares of TIMB opened at $20.89 on Wednesday. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 0.82 and a beta of 0.69. TIM has a fifty-two week low of $11.32 and a fifty-two week high of $21.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.91 and a quick ratio of 0.88. The business’s 50-day moving average is $19.85 and its 200-day moving average is $17.68.

TIM (NYSE:TIMB) last issued its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $6.62 billion. TIM had a return on equity of 13.99% and a net margin of 13.91%. Equities research analysts expect that TIM will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On TIM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. boosted its position in shares of TIM by 10.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company’s stock valued at $70,029,000 after acquiring an additional 339,384 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of TIM by 4.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock valued at $16,539,000 after acquiring an additional 47,130 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of TIM by 10.2% in the first quarter. Crossmark Global Holdings Inc. now owns 624,359 shares of the company’s stock valued at $9,771,000 after acquiring an additional 57,562 shares during the period. American Century Companies Inc. boosted its position in shares of TIM by 26.4% in the second quarter. American Century Companies Inc. now owns 445,578 shares of the company’s stock valued at $8,961,000 after acquiring an additional 93,179 shares during the period. Finally, Assetmark Inc. boosted its position in shares of TIM by 15.3% in the second quarter. Assetmark Inc. now owns 380,158 shares of the company’s stock valued at $7,645,000 after acquiring an additional 50,379 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.