Wall Street analysts expect Timken Steel Corporation (NYSE:TMST) to announce $345.00 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Timken Steel’s earnings. The lowest sales estimate is $343.00 million and the highest is $346.99 million. Timken Steel reported sales of $214.70 million in the same quarter last year, which indicates a positive year-over-year growth rate of 60.7%. The business is expected to announce its next earnings report on Thursday, February 15th.

On average, analysts expect that Timken Steel will report full year sales of $345.00 million for the current financial year, with estimates ranging from $1.33 billion to $1.36 billion. For the next fiscal year, analysts expect that the company will report sales of $1.43 billion per share, with estimates ranging from $1.37 billion to $1.49 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Timken Steel.

Timken Steel (NYSE:TMST) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). Timken Steel had a negative return on equity of 12.92% and a negative net margin of 6.39%. The firm had revenue of $339.10 million during the quarter, compared to analysts’ expectations of $351.50 million. During the same period in the previous year, the firm earned ($0.38) EPS. The firm’s quarterly revenue was up 58.6% on a year-over-year basis.

A number of brokerages have recently issued reports on TMST. Jefferies Group reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Timken Steel in a research report on Thursday, October 19th. BidaskClub raised shares of Timken Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. JPMorgan Chase & Co. began coverage on shares of Timken Steel in a research report on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 price objective on the stock. KeyCorp downgraded shares of Timken Steel from a “sector weight” rating to an “underweight” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, December 6th. Finally, ValuEngine downgraded shares of Timken Steel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Three 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.20.

Timken Steel (TMST) opened at $16.77 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.21 and a quick ratio of 1.05. Timken Steel has a 12-month low of $12.48 and a 12-month high of $23.00. The stock has a market cap of $745.29, a P/E ratio of -9.92 and a beta of 2.11.

In related news, insider Tina M. Beskid sold 2,548 shares of Timken Steel stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $13.68, for a total value of $34,856.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in 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 purchasing an additional 428,630 shares in the last quarter. Vanguard Group Inc. boosted its stake in Timken Steel by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,332,660 shares of the basic materials company’s stock worth $51,223,000 after purchasing an additional 77,821 shares in the last quarter. State Street Corp boosted its stake in 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 purchasing an additional 348,031 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Timken Steel by 2.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,147,176 shares of the basic materials company’s stock worth $18,928,000 after purchasing an additional 31,724 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in Timken Steel by 3.8% in the 3rd quarter. Royce & Associates LP now owns 1,139,301 shares of the basic materials company’s stock worth $18,798,000 after purchasing an additional 42,000 shares in the last quarter. Institutional investors own 74.16% 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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