Timkensteel Corp (NYSE:TMST) – Analysts at Jefferies Group dropped their Q4 2017 earnings per share estimates for Timkensteel in a research note issued to investors on Tuesday, according to Zacks Investment Research. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of ($0.35) per share for the quarter, down from their previous estimate of ($0.34). Jefferies Group has a “Hold” rating and a $18.00 price objective on the stock. Jefferies Group also issued estimates for Timkensteel’s FY2019 earnings at $3.41 EPS.
Several other equities research analysts have also recently weighed in on TMST. ValuEngine cut Timkensteel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub downgraded Timkensteel from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Zacks Investment Research raised Timkensteel from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, November 2nd. Finally, KeyCorp downgraded Timkensteel from a “sector weight” rating to an “underweight” rating and set a $12.00 target price on the stock. in a report on Wednesday, December 6th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.20.
Shares of Timkensteel (NYSE:TMST) traded down $0.81 during mid-day trading on Thursday, reaching $15.51. The company had a trading volume of 517,463 shares, compared to its average volume of 722,742. The stock has a market capitalization of $695.51, a PE ratio of -15.51 and a beta of 2.07. 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 0.30, a quick ratio of 0.90 and a current ratio of 1.98.
Timkensteel (NYSE:TMST) last issued its quarterly earnings results on Thursday, January 25th. The basic materials company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.43). The firm had revenue of $341.40 million during the quarter, compared to analysts’ expectations of $345.00 million. Timkensteel had a negative return on equity of 7.56% and a negative net margin of 3.33%. Timkensteel’s revenue for the quarter was up 59.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.52) earnings per share.
In other Timkensteel news, insider Tina M. Beskid sold 2,548 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $13.68, for a total value of $34,856.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in shares of Timkensteel during the fourth quarter valued at $137,000. Trexquant Investment LP bought a new position in shares of Timkensteel during the third quarter valued at $179,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Timkensteel by 52.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock valued at $194,000 after purchasing an additional 4,327 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Timkensteel during the third quarter valued at $212,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Timkensteel during the third quarter valued at $223,000. 72.67% of the stock is currently owned by hedge funds and other institutional investors.
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Timkensteel Company Profile
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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