$345.00 Million in Sales Expected for Timkensteel Corp (TMST) This Quarter

Equities research analysts expect that Timkensteel Corp (NYSE:TMST) will post sales of $345.00 million for the current quarter, according to Zacks. Two analysts have provided estimates for Timkensteel’s earnings. The highest sales estimate is $346.99 million and the lowest is $343.00 million. Timkensteel posted sales of $214.70 million during the same quarter last year, which suggests a positive year over year growth rate of 60.7%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, January 25th.

According to Zacks, analysts expect that Timkensteel will report full-year sales of $345.00 million for the current year, with estimates ranging from $1.33 billion to $1.36 billion. For the next year, analysts anticipate that the firm will report sales of $1.43 billion per share, with estimates ranging from $1.37 billion to $1.49 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Timkensteel.

Timkensteel (NYSE:TMST) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.05). The business had revenue of $339.10 million for the quarter, compared to analyst estimates 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 for the quarter was up 58.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) EPS.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Timkensteel from a “hold” rating to a “sell” rating in a research note on Saturday. BidaskClub upgraded shares of Timkensteel from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Jefferies Group reiterated a “hold” rating and set a $19.00 price target on shares of Timkensteel in a research note on Thursday, October 19th. ValuEngine cut shares of Timkensteel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, KeyCorp cut shares of Timkensteel from a “sector weight” rating to an “underweight” rating and set a $12.00 price target for the company. in a research note on Wednesday, December 6th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Timkensteel presently has a consensus rating of “Hold” and an average target price of $17.20.

Shares of Timkensteel (TMST) opened at $18.11 on Monday. The firm has a market cap of $804.84, a price-to-earnings ratio of -10.41 and a beta of 2.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 2.21. Timkensteel has a 52 week low of $12.48 and a 52 week high of $23.00.

In other Timkensteel news, insider Tina M. Beskid sold 2,548 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $13.68, for a total transaction of $34,856.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. raised its position in Timkensteel by 548.3% during 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 last quarter. Northern Trust Corp raised its position in Timkensteel by 1.9% during the 2nd quarter. Northern Trust Corp now owns 928,001 shares of the basic materials company’s stock worth $14,263,000 after buying an additional 16,961 shares during the last quarter. Royce & Associates LP raised its position in Timkensteel by 3.8% during the 3rd quarter. Royce & Associates LP now owns 1,139,301 shares of the basic materials company’s stock worth $18,798,000 after buying an additional 42,000 shares during the last quarter. Teton Advisors Inc. raised its position in Timkensteel by 7.6% during the 3rd quarter. Teton Advisors Inc. now owns 141,799 shares of the basic materials company’s stock worth $2,340,000 after buying an additional 10,000 shares during the last quarter. Finally, Citigroup Inc. raised its position in Timkensteel by 36.5% during the 2nd quarter. Citigroup Inc. now owns 45,755 shares of the basic materials company’s stock worth $703,000 after buying an additional 12,239 shares during the last quarter. Institutional investors own 72.62% of the company’s stock.

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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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