Zacks: Brokerages Anticipate Timkensteel Corp (TMST) Will Announce Earnings of -$0.32 Per Share

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Equities analysts forecast that Timkensteel Corp (NYSE:TMST) will report earnings of ($0.32) per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Timkensteel’s earnings, with the lowest EPS estimate coming in at ($0.35) and the highest estimate coming in at ($0.27). Timkensteel posted earnings per share of $0.21 during the same quarter last year, which would suggest a negative year-over-year growth rate of 252.4%. The company is expected to issue its next earnings results on Thursday, July 25th.

On average, analysts expect that Timkensteel will report full year earnings of $0.24 per share for the current fiscal year, with EPS estimates ranging from $0.15 to $0.40. For the next year, analysts anticipate that the business will report earnings of $1.03 per share, with EPS estimates ranging from $0.51 to $1.78. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Timkensteel.

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

Several brokerages have issued reports on TMST. Zacks Investment Research lowered shares of Timkensteel from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Cowen lowered shares of Timkensteel from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $12.00 to $13.50 in a report on Tuesday, February 26th. They noted that the move was a valuation call. Two investment 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.38.

Shares of TMST stock traded up $0.05 during trading hours on Friday, reaching $7.72. The stock had a trading volume of 271,471 shares, compared to its average volume of 280,339. The company has a current ratio of 2.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.42. Timkensteel has a 12 month low of $7.45 and a 12 month high of $18.84. The firm has a market capitalization of $345.59 million, a P/E ratio of 70.18 and a beta of 2.24.

In related news, Director Ronald A. Rice bought 10,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $7.52 per share, for a total transaction of $75,200.00. Following the purchase, the director now owns 70,183 shares of the company’s stock, valued at $527,776.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY boosted its position in shares of Timkensteel by 34.0% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 13,135 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 3,331 shares during the last quarter. Morgan Stanley increased its stake in Timkensteel by 23.2% in the first quarter. Morgan Stanley now owns 174,885 shares of the basic materials company’s stock worth $1,899,000 after purchasing an additional 32,975 shares during the period. Hsbc Holdings PLC increased its stake in Timkensteel by 11.4% in the first quarter. Hsbc Holdings PLC now owns 15,892 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 1,627 shares during the period. Pinebridge Investments L.P. purchased a new stake in Timkensteel in the first quarter worth $542,000. Finally, The Manufacturers Life Insurance Company increased its stake in Timkensteel by 8.8% in the first quarter. The Manufacturers Life Insurance Company now owns 27,056 shares of the basic materials company’s stock worth $294,000 after purchasing an additional 2,195 shares during the period. 75.35% of the stock is owned by institutional investors.

About Timkensteel

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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