TIM (NYSE:TIMB) Trading 4.3% Higher Following Dividend Announcement

Shares of Tim S.A. (NYSE:TIMB) shot up 4.3% on Thursday following a dividend announcement from the company. The company traded as high as $16.51 and last traded at $16.64. 78,652 shares traded hands during mid-day trading, a decline of 85% from the average session 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. Stockholders of record on Friday, April 11th will be issued a $0.2288 dividend. This is an increase from TIM’s previous dividend of $0.08. The ex-dividend date of this dividend is Thursday, April 10th. This represents a dividend yield of 5.73%. TIM’s payout ratio is presently 58.47%.

Analyst Ratings Changes

A number of brokerages recently commented on TIMB. UBS Group downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Barclays raised their price target on TIM from $16.00 to $16.50 and gave the company an “equal weight” rating in a report on Monday, March 17th. The Goldman Sachs Group dropped their price objective on TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Finally, Scotiabank reduced their price objective on shares of 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 3.4 %

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 business has a 50-day moving average price of $14.54 and a two-hundred day moving average price of $14.19. The firm has a market cap of $7.99 billion, a PE ratio of 13.99, a PEG ratio of 0.67 and a beta of 0.84.

TIM (NYSE:TIMB) last announced 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 return on equity of 11.91% and a net margin of 12.24%. Analysts forecast that Tim S.A. will post 1.34 EPS for the current year.

Institutional Investors Weigh In On TIM

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vise Technologies Inc. purchased a new stake in shares of TIM in the fourth quarter valued at $200,000. Voloridge Investment Management LLC acquired a new position in TIM in the 4th quarter valued at about $949,000. Two Sigma Advisers LP raised its stake in TIM by 5.2% in the 4th quarter. Two Sigma Advisers LP now owns 58,700 shares of the company’s stock valued at $690,000 after purchasing an additional 2,900 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in TIM in the 4th quarter valued at about $54,000. Finally, Quantinno Capital Management LP boosted its stake in shares of TIM by 10.3% during the 4th quarter. Quantinno Capital Management LP now owns 19,388 shares of the company’s stock worth $228,000 after purchasing an additional 1,810 shares during the last quarter.

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.