Zacks: Brokerages Anticipate Timken Steel Corporation (TMST) Will Post Quarterly Sales of $338.10 Million

Wall Street analysts expect that Timken Steel Corporation (NYSE:TMST) will report $338.10 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Timken Steel Corporation’s earnings, with estimates ranging from $324.30 million to $346.99 million. Timken Steel Corporation posted sales of $214.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 57.5%. The company is scheduled to announce its next earnings report on Thursday, February 15th.

On average, analysts expect that Timken Steel Corporation will report full-year sales of $338.10 million for the current year, with estimates ranging from $1.32 billion to $1.36 billion. For the next year, analysts forecast that the business will post sales of $1.43 billion per share, with estimates ranging from $1.37 billion to $1.49 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Timken Steel Corporation.

Timken Steel Corporation (NYSE:TMST) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The company had revenue of $339.10 million for the quarter, compared to the consensus estimate of $351.50 million. Timken Steel Corporation had a negative return on equity of 12.92% 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 period in the prior year, the firm posted ($0.38) earnings per share.

Several equities research analysts have issued reports on TMST shares. Jefferies Group LLC restated a “hold” rating and set a $19.00 target price on shares of Timken Steel Corporation in a research report on Thursday, October 19th. Zacks Investment Research downgraded Timken Steel Corporation from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub downgraded Timken Steel Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Cowen and Company set a $23.00 price objective on Timken Steel Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Two investment 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. The stock presently has an average rating of “Hold” and an average price target of $18.50.

Shares of Timken Steel Corporation (TMST) traded down $0.06 during midday trading on Monday, reaching $14.10. The company’s stock had a trading volume of 192,500 shares, compared to its average volume of 520,820. Timken Steel Corporation has a 1-year low of $12.30 and a 1-year high of $23.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.21 and a quick ratio of 1.05.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in Timken Steel Corporation by 0.5% in the second quarter. Arizona State Retirement System now owns 20,400 shares of the basic materials company’s stock worth $314,000 after buying an additional 100 shares during the period. Texas Permanent School Fund lifted its holdings in shares of Timken Steel Corporation by 1.2% during the second quarter. Texas Permanent School Fund now owns 28,510 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 335 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Timken Steel Corporation by 3.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 340 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Timken Steel Corporation by 0.7% during the second quarter. Teachers Advisors LLC now owns 71,166 shares of the basic materials company’s stock valued at $1,094,000 after purchasing an additional 461 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Timken Steel Corporation by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 31,650 shares of the basic materials company’s stock valued at $487,000 after purchasing an additional 924 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

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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