Timkensteel Corp (NYSE:TMST) – Stock analysts at Jefferies Group cut their Q4 2017 earnings estimates for Timkensteel in a research note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of ($0.35) per share for the quarter, down from their prior forecast of ($0.34). Jefferies Group currently has a “Hold” rating and a $18.00 target price on the stock. Jefferies Group also issued estimates for Timkensteel’s FY2019 earnings at $3.41 EPS.
A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of Timkensteel in a report on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 target price for the company. KeyCorp cut shares of Timkensteel from a “sector weight” rating to an “underweight” rating and set a $12.00 target price for the company. in a report on Wednesday, December 6th. Zacks Investment Research cut shares of Timkensteel from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. ValuEngine cut shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, BidaskClub lowered shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.20.
Timkensteel (NYSE:TMST) opened at $18.52 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. Timkensteel has a fifty-two week low of $12.48 and a fifty-two week high of $23.00.
Timkensteel (NYSE:TMST) last posted 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 during the quarter, compared to the consensus estimate of $351.50 million. Timkensteel had a negative return on equity of 12.92% and a negative net margin of 6.39%. The firm’s revenue was up 58.6% compared to the same quarter last year. During the same period last year, the company posted ($0.38) EPS.
In other Timkensteel news, insider Tina M. Beskid sold 2,548 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $13.68, for a total transaction of $34,856.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC grew its position in shares of Timkensteel by 0.7% during the 2nd quarter. Teachers Advisors LLC now owns 71,166 shares of the basic materials company’s stock worth $1,094,000 after buying an additional 461 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Timkensteel by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,650 shares of the basic materials company’s stock worth $487,000 after buying an additional 924 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Timkensteel by 4.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 23,500 shares of the basic materials company’s stock worth $361,000 after buying an additional 1,050 shares during the period. Pinebridge Investments L.P. grew its position in shares of Timkensteel by 2.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 55,800 shares of the basic materials company’s stock worth $857,000 after buying an additional 1,190 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Timkensteel by 0.4% during the 2nd quarter. Principal Financial Group Inc. now owns 297,012 shares of the basic materials company’s stock worth $4,565,000 after buying an additional 1,226 shares during the period. 72.62% of the stock is owned by institutional investors and hedge funds.
Timkensteel 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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