Timkensteel Corp (NYSE:TMST) – Equities researchers at KeyCorp decreased their Q4 2017 earnings estimates for Timkensteel in a research report issued to clients and investors on Thursday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn ($0.36) per share for the quarter, down from their previous forecast of ($0.34). KeyCorp currently has a “Underweight” rating and a $12.00 target price on the stock. KeyCorp also issued estimates for Timkensteel’s FY2018 earnings at $0.32 EPS.
Several other equities analysts have also recently commented on TMST. BidaskClub raised shares of Timkensteel from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 21st. JPMorgan Chase & Co. initiated coverage on shares of Timkensteel in a research note on Wednesday, October 4th. They set a “neutral” rating and a $17.00 price objective for the company. Jefferies Group reaffirmed a “hold” rating on shares of Timkensteel in a research note on Thursday, October 12th. ValuEngine cut shares of Timkensteel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of Timkensteel from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Timkensteel currently has a consensus rating of “Hold” and a consensus price target of $17.20.
Timkensteel (TMST) opened at $18.52 on Monday. The company has a market cap of $823.06, a P/E ratio of -10.64 and a beta of 2.25. Timkensteel has a 12 month low of $12.48 and a 12 month high of $23.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 2.21.
Timkensteel (NYSE:TMST) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The firm had revenue of $339.10 million for the quarter, compared to analysts’ expectations of $351.50 million. Timkensteel had a negative net margin of 6.39% and a negative return on equity of 12.92%. Timkensteel’s revenue was up 58.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) EPS.
Several institutional investors and hedge funds have recently made changes to their positions in TMST. Trexquant Investment LP bought a new stake in shares of Timkensteel in the 3rd quarter worth approximately $179,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Timkensteel by 52.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock worth $194,000 after acquiring an additional 4,327 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Timkensteel in the 3rd quarter worth approximately $212,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Timkensteel in the 3rd quarter worth approximately $223,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Timkensteel by 58.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,650 shares of the basic materials company’s stock worth $242,000 after acquiring an additional 5,420 shares during the last quarter. Hedge funds and other institutional investors own 72.62% of the company’s stock.
In other Timkensteel news, insider Tina M. Beskid sold 2,548 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $13.68, for a total value of $34,856.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.10% of the stock is owned by insiders.
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TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.
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