Zacks Investment Research lowered shares of Timkensteel (NYSE:TMST) from a hold rating to a sell rating in a research report report published on Tuesday morning.
According to Zacks, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio. “
A number of other equities analysts have also recently issued reports on the company. ValuEngine cut Timkensteel from a hold rating to a sell rating in a report on Monday, September 24th. Jefferies Financial Group restated a hold rating and set a $17.00 price objective on shares of Timkensteel in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Timkensteel has an average rating of Hold and a consensus target price of $17.67.
NYSE TMST opened at $12.30 on Tuesday. The company has a market cap of $559.54 million, a PE ratio of -12.31 and a beta of 1.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 2.19. Timkensteel has a fifty-two week low of $11.99 and a fifty-two week high of $20.24.
Timkensteel (NYSE:TMST) last released its earnings results on Thursday, July 26th. The basic materials company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.11). The company had revenue of $413.50 million for the quarter, compared to the consensus estimate of $419.33 million. Timkensteel had a negative net margin of 2.29% and a negative return on equity of 5.79%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) EPS. On average, equities analysts expect that Timkensteel will post 0.27 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC purchased a new position in Timkensteel during the 2nd quarter valued at $150,000. Barclays PLC boosted its holdings in Timkensteel by 63.2% during the 1st quarter. Barclays PLC now owns 12,226 shares of the basic materials company’s stock valued at $186,000 after acquiring an additional 4,734 shares during the period. Paloma Partners Management Co purchased a new position in Timkensteel during the 2nd quarter valued at $211,000. A.R.T. Advisors LLC purchased a new position in Timkensteel during the 1st quarter valued at $211,000. Finally, Russell Investments Group Ltd. boosted its holdings in Timkensteel by 148.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 15,061 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 8,996 shares during the period. Institutional investors own 75.22% of the company’s stock.
Timkensteel Company Profile
TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision components, as well as thermal treatment and machining services. The company's products are used in oil country drill pipes; bits and collars; gears; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.
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