TIM Brasil (TSU) Shares Down 6.8%

TIM Brasil (NYSE:TSU)’s share price dropped 6.8% on Thursday . The stock traded as low as $18.08 and last traded at $18.14. Approximately 1,926,000 shares traded hands during mid-day trading, an increase of 76% from the average daily volume of 1,095,890 shares. The stock had previously closed at $19.47.

TSU has been the subject of several analyst reports. Zacks Investment Research raised shares of TIM Brasil from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, February 7th. Goldman Sachs began coverage on shares of TIM Brasil in a research note on Tuesday, April 3rd. They issued a “buy” rating for the company. Barclays cut shares of TIM Brasil from an “overweight” rating to an “equal weight” rating and set a $21.00 price objective for the company. in a research report on Friday, May 11th. Royal Bank of Canada set a $22.00 price objective on shares of TIM Brasil and gave the stock a “hold” rating in a research report on Friday, March 9th. Finally, Scotiabank set a $22.00 price objective on shares of TIM Brasil and gave the stock a “hold” rating in a research report on Monday, February 5th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.17.

The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $9.22 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 0.70 and a beta of 1.37.

The business also recently disclosed an annual dividend, which will be paid on Tuesday, June 26th. Shareholders of record on Monday, April 30th will be given a dividend of $0.0626 per share. The ex-dividend date of this dividend is Friday, April 27th. This represents a yield of 0.28%. TIM Brasil’s dividend payout ratio (DPR) is 10.00%.

A number of hedge funds have recently added to or reduced their stakes in TSU. Boussard & Gavaudan Investment Management LLP bought a new position in TIM Brasil during the fourth quarter worth $3,737,000. Quantitative Systematic Strategies LLC bought a new stake in shares of TIM Brasil in the fourth quarter valued at about $276,000. Aperio Group LLC boosted its position in shares of TIM Brasil by 15.6% in the fourth quarter. Aperio Group LLC now owns 60,501 shares of the Wireless communications provider’s stock valued at $1,168,000 after acquiring an additional 8,180 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of TIM Brasil by 22.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 169,850 shares of the Wireless communications provider’s stock valued at $3,280,000 after acquiring an additional 31,450 shares during the period. Finally, Mckinley Capital Management LLC Delaware boosted its position in shares of TIM Brasil by 22.9% in the fourth quarter. Mckinley Capital Management LLC Delaware now owns 119,303 shares of the Wireless communications provider’s stock valued at $2,304,000 after acquiring an additional 22,267 shares during the period. 14.72% of the stock is owned by hedge funds and other institutional investors.

About TIM Brasil

TIM Participações SA provides telecommunication services in Brazil. The company offers mobile voice and data, broadband Internet access, value-added, and other telecommunications services and products. It provides prepaid and postpaid services; value-added services, including short message services or text messaging, and multimedia messaging services; and insurance services.

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