FY2018 EPS Estimates for Timken Steel Corporation (TMST) Cut by KeyCorp

Timken Steel Corporation (NYSE:TMST) – Stock analysts at KeyCorp cut their FY2018 earnings per share (EPS) estimates for Timken Steel in a research report issued to clients and investors on Tuesday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $0.06 for the year, down from their previous forecast of $0.80. KeyCorp currently has a “Underweight” rating and a $12.00 target price on the stock.

A number of other research analysts have also weighed in on TMST. BidaskClub raised Timken Steel from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Jefferies Group reissued a “hold” rating and set a $19.00 price target on shares of Timken Steel in a research note on Thursday, October 19th. Zacks Investment Research raised Timken Steel from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, November 2nd. ValuEngine lowered Timken Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, J P Morgan Chase & Co assumed coverage on Timken Steel in a research note on Wednesday, October 4th. They set a “neutral” rating and a $17.00 price target on the stock. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.20.

Timken Steel (NYSE TMST) opened at $13.47 on Friday. Timken Steel has a 52 week low of $12.48 and a 52 week high of $23.00. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28.

Timken Steel (NYSE:TMST) last announced its earnings results 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 analyst estimates of $351.50 million. Timken Steel had a negative net margin of 6.39% and a negative return on equity of 12.92%. Timken Steel’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.38) EPS.

Several institutional investors and hedge funds have recently modified their holdings of TMST. Gamco Investors INC. ET AL raised its position in shares of Timken Steel by 100.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock worth $17,144,000 after buying an additional 557,976 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Timken Steel by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,444,679 shares of the basic materials company’s stock worth $52,945,000 after buying an additional 428,630 shares during the period. State Street Corp raised its position in shares of Timken Steel by 22.0% in the 2nd quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock worth $29,719,000 after buying an additional 348,031 shares during the period. Royce & Associates LP raised its position in shares of Timken Steel by 42.2% in the 2nd quarter. Royce & Associates LP now owns 1,097,301 shares of the basic materials company’s stock worth $16,866,000 after buying an additional 325,555 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of Timken Steel by 548.3% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 287,861 shares of the basic materials company’s stock worth $4,750,000 after buying an additional 243,457 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

In other Timken Steel news, insider Tina M. Beskid sold 2,548 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $13.68, for a total transaction of $34,856.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 8.10% of the company’s stock.

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Timken Steel 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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