Analysts Set Timken Steel Corporation (TMST) PT at $18.00

Timken Steel Corporation (NYSE:TMST) has earned an average recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $18.00.

Several analysts have issued reports on TMST shares. Zacks Investment Research upgraded shares of Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and issued a $19.00 price target on shares of Timken Steel Corporation in a research report on Thursday, October 19th. J P Morgan Chase & Co started coverage on shares of Timken Steel Corporation in a research report on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 price target on the stock. BidaskClub lowered shares of Timken Steel Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Cowen and Company restated a “buy” rating on shares of Timken Steel Corporation in a research report on Friday, September 1st.

Several institutional investors have recently modified their holdings of TMST. State of Alaska Department of Revenue boosted its position in shares of Timken Steel Corporation by 79.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 3,416 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Timken Steel Corporation by 3.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 340 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of Timken Steel Corporation by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 9,100 shares of the basic materials company’s stock valued at $172,000 after acquiring an additional 596 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Timken Steel Corporation by 52.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock valued at $194,000 after acquiring an additional 4,327 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Timken Steel Corporation during the 3rd quarter valued at about $212,000. Institutional investors and hedge funds own 75.59% of the company’s stock.

Shares of Timken Steel Corporation (NYSE TMST) traded down 10.87% during trading on Wednesday, hitting $15.75. 931,920 shares of the stock traded hands. The company’s market cap is $699.68 million. Timken Steel Corporation has a one year low of $9.39 and a one year high of $23.00. The firm has a 50 day moving average price of $16.28 and a 200-day moving average price of $15.20.

Timken Steel Corporation (NYSE:TMST) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The company had revenue of $339.10 million during the quarter, compared to analyst estimates of $351.50 million. Timken Steel Corporation had a negative return on equity of 12.91% and a negative net margin of 6.39%. The business’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.38) earnings per share. Analysts anticipate that Timken Steel Corporation will post ($0.48) earnings per share for the current fiscal year.

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About Timken Steel Corporation

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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