Zacks Investment Research Lowers TIM Participacoes (TSU) to Hold

TIM Participacoes (NYSE:TSU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, February 6th.

According to Zacks, “TIM PARTICIPAÇÕES S.A. is a holding company, the single company in Brazil to offer mobile cellular service throughout the Brazilian territory, by means of its subsidiaries TIM Celular S.A. and TIM Nordeste S.A. The company is the largest GSM (Global System for Mobile communications) operator of the country, in terms of clients and revenues and TIM Participações ended the 3Q08 with 35.2 million clients and a market share of 25%. “

Several other analysts have also recently weighed in on TSU. Barclays lifted their price objective on shares of TIM Participacoes from $18.50 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. UBS Group upgraded shares of TIM Participacoes from a “market perform” rating to an “outperform” rating in a research note on Friday, November 24th. Royal Bank of Canada set a $17.00 price objective on shares of TIM Participacoes and gave the stock a “hold” rating in a research note on Thursday, November 30th. Santander upgraded shares of TIM Participacoes from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Finally, Scotiabank set a $20.00 price objective on shares of TIM Participacoes and gave the stock a “hold” rating in a research note on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $20.50.

Shares of TIM Participacoes (TSU) opened at $21.10 on Tuesday. TIM Participacoes has a 12 month low of $13.63 and a 12 month high of $21.75. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.28. The firm has a market cap of $10,178.01, a PE ratio of 26.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.47.

Several large investors have recently modified their holdings of TSU. BlackRock Inc. raised its position in shares of TIM Participacoes by 29.8% in the 4th quarter. BlackRock Inc. now owns 5,308,568 shares of the Wireless communications provider’s stock valued at $102,508,000 after buying an additional 1,219,843 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of TIM Participacoes by 77.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,075,200 shares of the Wireless communications provider’s stock valued at $40,072,000 after buying an additional 907,300 shares in the last quarter. Tremblant Capital Group raised its position in shares of TIM Participacoes by 15.1% in the 3rd quarter. Tremblant Capital Group now owns 4,618,379 shares of the Wireless communications provider’s stock valued at $84,424,000 after buying an additional 604,161 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of TIM Participacoes by 35.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,107,897 shares of the Wireless communications provider’s stock valued at $20,251,000 after buying an additional 292,830 shares in the last quarter. Finally, Boussard & Gavaudan Investment Management LLP acquired a new position in shares of TIM Participacoes in the 4th quarter valued at approximately $3,737,000. Institutional investors own 15.39% of the company’s stock.

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About TIM Participacoes

TIM Participacoes SA (TIM) is a provider of mobile telecommunication services in Brazil. The Company, through its subsidiaries in various telecommunications markets, operates mobile, fixed and long distance telephony, data transmission and ultra-broadband services. Its direct subsidiaries include TIM Celular SA, which provides landline telephone services (commuted fixed telephonic service (STFC))-domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (multimedia service of communication (SCM)) in all Brazilian states and in the Federal District, and Intelig Telecomunicacoes Ltda., which provides STFC-local voices services and SCM services in all Brazilian states and in the Federal District.

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