TIM (NYSE:TIMB) Shares Gap Up Following Dividend Announcement

Shares of Tim S.A. (NYSE:TIMB) gapped up before the market opened on Tuesday following a dividend announcement from the company. The stock had previously closed at $13.54, but opened at $14.33. TIM shares last traded at $14.33, with a volume of 48,376 shares.

The newly announced dividend which will be paid on Tuesday, April 29th. Investors of record on Friday, February 21st will be given a dividend of $0.0717 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.29 annualized dividend and a yield of 1.90%. TIM’s payout ratio is currently 56.35%.

Analyst Ratings Changes

Several analysts have commented on TIMB shares. Barclays lowered their price objective on shares of TIM from $17.50 to $15.50 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. UBS Group cut shares of TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. The Goldman Sachs Group reduced their price objective on TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, Scotiabank lowered their target price on TIM from $23.20 to $17.60 and set a “sector outperform” rating on the stock in a research note on Wednesday.

TIM Price Performance

The firm’s 50 day moving average price is $12.59 and its two-hundred day moving average price is $14.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market cap of $7.29 billion, a PE ratio of 11.96, a P/E/G ratio of 0.60 and a beta of 0.84.

TIM (NYSE:TIMB) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). TIM had a net margin of 12.71% and a return on equity of 11.73%. On average, research analysts expect that Tim S.A. will post 1.16 earnings per share for the current year.

Institutional Trading of TIM

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of TIM during the third quarter valued at about $25,000. Global Retirement Partners LLC increased its holdings in TIM by 1,005.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,431 shares of the company’s stock worth $29,000 after acquiring an additional 2,211 shares during the period. R Squared Ltd purchased a new stake in TIM in the 4th quarter worth approximately $53,000. EntryPoint Capital LLC bought a new position in TIM in the 4th quarter valued at $146,000. Finally, Inspire Advisors LLC purchased a new position in shares of TIM during the 3rd quarter valued at $173,000.

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.