Timkensteel Corp (NYSE:TMST) – Equities research analysts at KeyCorp raised their FY2018 earnings per share (EPS) estimates for Timkensteel in a research report issued to clients and investors on Sunday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $0.30 per share for the year, up from their prior estimate of $0.25. KeyCorp currently has a “Overweight” rating and a $17.00 target price on the stock. KeyCorp also issued estimates for Timkensteel’s FY2019 earnings at $0.97 EPS.
A number of other research firms also recently issued reports on TMST. Zacks Investment Research downgraded Timkensteel from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Jefferies Group restated a “hold” rating and set a $19.00 price target on shares of Timkensteel in a research note on Thursday, October 19th. ValuEngine downgraded Timkensteel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, BidaskClub downgraded Timkensteel from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $18.20.
Timkensteel (NYSE:TMST) last released its quarterly earnings results on Thursday, January 25th. The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.43). The firm had revenue of $341.40 million for the quarter, compared to the consensus estimate of $345.00 million. Timkensteel had a negative net margin of 3.33% and a negative return on equity of 7.56%. The company’s revenue for the quarter was up 59.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.52) earnings per share.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Timkensteel by 5.4% during the 4th quarter. BlackRock Inc. now owns 5,507,996 shares of the basic materials company’s stock valued at $83,666,000 after acquiring an additional 282,978 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Timkensteel 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. lifted its holdings in Timkensteel 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 lifted its holdings in Timkensteel 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. Finally, Royce & Associates LP lifted its holdings in Timkensteel by 30.7% in the 4th quarter. Royce & Associates LP now owns 1,488,988 shares of the basic materials company’s stock worth $22,618,000 after purchasing an additional 349,687 shares in the last quarter. Institutional investors own 71.77% of the company’s stock.
In related news, insider Tina M. Beskid sold 2,548 shares of the business’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.10% 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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