TIM (NYSE:TIMB) Price Target Lowered to $17.60 at Scotiabank

TIM (NYSE:TIMB) had its price target reduced by equities research analysts at Scotiabank from $23.20 to $17.60 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 19.04% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. UBS Group downgraded TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. The Goldman Sachs Group cut their price target on TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Finally, Barclays reduced their price target on TIM from $17.50 to $15.50 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th.

TIM Stock Performance

TIMB traded up $0.07 on Wednesday, reaching $14.79. The company had a trading volume of 209,815 shares, compared to its average volume of 608,065. The company’s fifty day moving average is $12.55 and its 200 day moving average is $14.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97. The stock has a market cap of $7.16 billion, a P/E ratio of 11.74, a P/E/G ratio of 0.60 and a beta of 0.84. TIM has a fifty-two week low of $11.32 and a fifty-two week high of $19.14.

TIM (NYSE:TIMB) last posted 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 net margin of 12.71% and a return on equity of 11.73%. As a group, analysts predict that TIM will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TIM

Institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in TIM in the third quarter valued at about $12,054,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of TIM by 137.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock valued at $12,187,000 after acquiring an additional 409,992 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in TIM by 55.8% during the 3rd 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 last quarter. Meritage Portfolio Management bought a new stake in shares of TIM during the third quarter worth about $3,683,000. Finally, State Street Corp raised its holdings in TIM by 16.7% in the 3rd quarter. State Street Corp now owns 583,724 shares of the company’s stock valued at $10,207,000 after buying an additional 83,468 shares during the last quarter.

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.