Wall Street brokerages forecast that Timkensteel Corp (NYSE:TMST) will report ($0.04) earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Timkensteel’s earnings. The lowest EPS estimate is ($0.06) and the highest is ($0.03). Timkensteel reported earnings of ($0.13) per share in the same quarter last year, which indicates a positive year over year growth rate of 69.2%. The firm is expected to report its next earnings results after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that Timkensteel will report full-year earnings of $0.28 per share for the current fiscal year, with EPS estimates ranging from $0.20 to $0.34. For the next financial year, analysts expect that the company will post earnings of $1.45 per share, with EPS estimates ranging from $0.99 to $2.27. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Timkensteel.
Timkensteel (NYSE:TMST) last posted its earnings results on Thursday, July 26th. The basic materials company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.11). The firm had revenue of $413.50 million for the quarter, compared to the consensus estimate of $419.33 million. Timkensteel had a negative net margin of 2.29% and a negative return on equity of 5.79%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share.
A number of research firms have recently commented on TMST. KeyCorp increased their target price on Timkensteel from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 14th. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 target price on shares of Timkensteel in a research report on Friday, July 13th. Zacks Investment Research downgraded Timkensteel from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Finally, ValuEngine downgraded Timkensteel from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.67.
NYSE TMST opened at $14.56 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.19 and a debt-to-equity ratio of 0.39. The company has a market cap of $662.97 million, a PE ratio of -14.56 and a beta of 1.87. Timkensteel has a one year low of $12.54 and a one year high of $20.24.
Institutional investors and hedge funds have recently modified their holdings of the stock. Luminus Management LLC lifted its position in Timkensteel by 14.9% in the second quarter. Luminus Management LLC now owns 981,708 shares of the basic materials company’s stock worth $16,051,000 after buying an additional 127,668 shares during the last quarter. Paloma Partners Management Co bought a new stake in Timkensteel in the second quarter worth $211,000. Raymond James Financial Services Advisors Inc. lifted its position in Timkensteel by 33.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 25,259 shares of the basic materials company’s stock worth $413,000 after buying an additional 6,366 shares during the last quarter. Systematic Financial Management LP lifted its position in Timkensteel by 36.2% in the second quarter. Systematic Financial Management LP now owns 361,830 shares of the basic materials company’s stock worth $5,916,000 after buying an additional 96,250 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Timkensteel by 4.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 489,705 shares of the basic materials company’s stock worth $7,439,000 after buying an additional 19,910 shares during the last quarter. Institutional investors own 75.22% of the company’s stock.
TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision components, as well as thermal treatment and machining services. The company's products are used in oil country drill pipes; bits and collars; gears; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.
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