TIM (NYSE:TIMB) PT Lowered to $16.50 at Barclays

TIM (NYSE:TIMBGet Rating) had its price objective lowered by Barclays from $17.50 to $16.50 in a research note released on Monday morning, The Fly reports. The brokerage currently has an overweight rating on the stock.

TIM Price Performance

TIMB opened at $11.99 on Monday. TIM has a 12-month low of $10.70 and a 12-month high of $15.61. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $11.98 and its 200-day simple moving average is $12.31. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.43 and a beta of 0.76.

TIM Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 23rd were given a dividend of $0.075 per share. The ex-dividend date was Thursday, September 22nd. TIM’s payout ratio is currently 45.68%.

Institutional Investors Weigh In On TIM

A number of institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management LLC bought a new stake in TIM during the third quarter valued at about $252,000. Jane Street Group LLC boosted its position in TIM by 64.0% during the third quarter. Jane Street Group LLC now owns 152,423 shares of the company’s stock valued at $1,704,000 after purchasing an additional 59,496 shares in the last quarter. BNP Paribas Arbitrage SNC bought a new stake in TIM during the third quarter valued at about $743,000. State Street Corp boosted its position in TIM by 8.8% during the third quarter. State Street Corp now owns 458,526 shares of the company’s stock valued at $5,210,000 after purchasing an additional 37,230 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in TIM during the third quarter valued at about $184,000. Institutional investors own 4.26% of the company’s stock.

About TIM

(Get Rating)

TIM SA, a telecommunications company, provides mobile voice and data services, broadband internet access, value-added services, and other telecommunications services and products in Brazil. The company offers services for individuals, as well as corporate solutions for small, medium, and large companies.

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