TIM (NYSE:TIMB) Stock Price Up 4.3% Following Dividend Announcement

Shares of Tim S.A. (NYSE:TIMB) were up 4.3% during trading on Thursday following a dividend announcement from the company. The company traded as high as $16.51 and last traded at $16.64. Approximately 78,652 shares changed hands during trading, a decline of 85% from the average daily volume of 509,333 shares. The stock had previously closed at $15.96.

The newly announced dividend which will be paid on Thursday, October 30th. Shareholders of record on Friday, April 11th will be issued a $0.2288 dividend. The ex-dividend date is Thursday, April 10th. This is an increase from TIM’s previous dividend of $0.08. This represents a yield of 5.73%. TIM’s payout ratio is 58.47%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TIMB. Barclays upped their target price on TIM from $16.00 to $16.50 and gave the company an “equal weight” rating in a research note on Monday, March 17th. The Goldman Sachs Group decreased their price target on shares of TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. UBS Group cut TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Finally, Scotiabank dropped their price target on TIM from $23.20 to $17.60 and set a “sector outperform” rating for the company in a research note on Wednesday, February 12th.

TIM Trading Up 4.1 %

The firm has a fifty day moving average of $14.47 and a 200-day moving average of $14.18. 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 capitalization of $8.05 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.67 and a beta of 0.84.

TIM (NYSE:TIMB) last posted its earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). TIM had a net margin of 12.24% and a return on equity of 11.91%. As a group, equities analysts predict that Tim S.A. will post 1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in TIM in the 3rd quarter worth $25,000. Global Retirement Partners LLC grew its position in shares of TIM by 1,005.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,431 shares of the company’s stock valued at $29,000 after buying an additional 2,211 shares during the last quarter. R Squared Ltd acquired a new stake in TIM during the fourth quarter worth about $53,000. Point72 Hong Kong Ltd bought a new position in TIM in the fourth quarter worth about $54,000. Finally, EntryPoint Capital LLC bought a new position in TIM in the fourth quarter worth about $146,000.

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.