Timkensteel Corp (NYSE:TMST) – Equities researchers at KeyCorp decreased their FY2019 earnings per share (EPS) estimates for Timkensteel in a note issued to investors on Tuesday, May 21st. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $0.27 per share for the year, down from their prior estimate of $0.35. KeyCorp also issued estimates for Timkensteel’s FY2020 earnings at $1.07 EPS.

Timkensteel (NYSE:TMST) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. The firm had revenue of $371.00 million during the quarter, compared to analysts’ expectations of $370.70 million. Timkensteel had a positive return on equity of 1.71% and a negative net margin of 1.60%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) EPS.

TMST has been the subject of a number of other research reports. Zacks Investment Research raised Timkensteel from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research report on Wednesday, February 13th. Cowen cut Timkensteel from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $12.00 to $13.50 in a research report on Tuesday, February 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Timkensteel presently has a consensus rating of “Hold” and an average target price of $15.38.

Timkensteel stock opened at $7.67 on Thursday. The company has a quick ratio of 0.91, a current ratio of 2.66 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $355.92 million, a PE ratio of 69.73 and a beta of 2.24. Timkensteel has a 1-year low of $7.87 and a 1-year high of $18.84.

A number of institutional investors and hedge funds have recently modified their holdings of TMST. Bank of New York Mellon Corp lifted its position in Timkensteel by 146.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,128,161 shares of the basic materials company’s stock worth $16,775,000 after acquiring an additional 670,666 shares during the period. THB Asset Management acquired a new stake in Timkensteel during the 1st quarter worth about $4,486,000. BlackRock Inc. raised its stake in shares of Timkensteel by 2.3% during the 1st quarter. BlackRock Inc. now owns 6,023,460 shares of the basic materials company’s stock valued at $65,414,000 after buying an additional 133,249 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Timkensteel by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,749,573 shares of the basic materials company’s stock valued at $55,756,000 after buying an additional 78,059 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Timkensteel by 17.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 499,108 shares of the basic materials company’s stock valued at $4,362,000 after buying an additional 75,612 shares during the last quarter. 75.35% of the stock is owned by institutional investors.

In other news, Director Ronald A. Rice purchased 10,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $7.52 per share, with a total value of $75,200.00. Following the transaction, the director now owns 70,183 shares in the company, valued at approximately $527,776.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.70% of the company’s stock.

Timkensteel Company Profile

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.

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Earnings History and Estimates for Timkensteel (NYSE:TMST)

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