Timkensteel Corp (NYSE:TMST) – Equities research analysts at Jefferies Financial Group dropped their Q3 2019 earnings per share estimates for Timkensteel in a research note issued on Wednesday, October 16th. Jefferies Financial Group analyst M. Englert now forecasts that the basic materials company will post earnings per share of ($0.57) for the quarter, down from their previous forecast of ($0.41). Jefferies Financial Group also issued estimates for Timkensteel’s Q4 2019 earnings at ($0.41) EPS, FY2019 earnings at ($0.77) EPS, FY2020 earnings at $0.43 EPS, FY2021 earnings at $0.83 EPS, FY2022 earnings at $1.05 EPS and FY2023 earnings at $1.23 EPS.
Timkensteel (NYSE:TMST) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.45. The business had revenue of $336.70 million for the quarter, compared to analysts’ expectations of $368.67 million. Timkensteel had a positive return on equity of 0.99% and a negative net margin of 2.52%. The firm’s revenue was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share.
A number of other research analysts have also recently commented on the company. Gabelli reissued a “buy” rating on shares of Timkensteel in a research note on Tuesday, August 6th. ValuEngine raised Timkensteel from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Cowen reissued a “market perform” rating and issued a $7.50 target price (down previously from $8.25) on shares of Timkensteel in a research note on Tuesday, August 6th. G.Research reaffirmed a “buy” rating on shares of Timkensteel in a research note on Tuesday, August 6th. Finally, Zacks Investment Research cut Timkensteel from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.25.
TMST opened at $5.49 on Monday. The stock has a market cap of $242.46 million, a PE ratio of 49.91 and a beta of 2.46. The company has a quick ratio of 1.15, a current ratio of 3.11 and a debt-to-equity ratio of 0.38. Timkensteel has a 52 week low of $4.86 and a 52 week high of $14.58. The business’s fifty day simple moving average is $6.16 and its 200 day simple moving average is $7.50.
Large investors have recently made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of Timkensteel by 2,789.3% during the second quarter. Bank of Montreal Can now owns 3,496 shares of the basic materials company’s stock valued at $28,000 after buying an additional 3,375 shares during the last quarter. Tyers Asset Management LLC boosted its holdings in shares of Timkensteel by 25.2% during the second quarter. Tyers Asset Management LLC now owns 9,184 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 1,848 shares during the period. Trexquant Investment LP purchased a new stake in shares of Timkensteel during the second quarter worth about $82,000. Menta Capital LLC purchased a new stake in shares of Timkensteel during the second quarter worth about $89,000. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Timkensteel by 26.4% during the second quarter. Riverhead Capital Management LLC now owns 11,005 shares of the basic materials company’s stock worth $89,000 after purchasing an additional 2,300 shares during the period. 70.50% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Ward J. Timken, Jr. acquired 30,000 shares of Timkensteel stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $6.15 per share, with a total value of $184,500.00. Following the completion of the purchase, the chief executive officer now owns 182,712 shares of the company’s stock, valued at $1,123,678.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ward J. Timken, Jr. acquired 15,000 shares of Timkensteel stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $4.94 per share, for a total transaction of $74,100.00. Following the completion of the purchase, the chief executive officer now directly owns 197,712 shares of the company’s stock, valued at approximately $976,697.28. The disclosure for this purchase can be found here. Insiders have bought 63,600 shares of company stock worth $372,140 over the last ninety days. Insiders own 8.70% of the company’s stock.
Timkensteel Company Profile
TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.
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