Analysts expect Timkensteel Corp (NYSE:TMST) to post sales of $397.18 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Timkensteel’s earnings. The lowest sales estimate is $386.40 million and the highest is $406.00 million. Timkensteel reported sales of $341.40 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.3%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, February 20th.
According to Zacks, analysts expect that Timkensteel will report full year sales of $1.60 billion for the current year, with estimates ranging from $1.59 billion to $1.61 billion. For the next year, analysts anticipate that the business will report sales of $1.67 billion, with estimates ranging from $1.55 billion to $1.77 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Timkensteel.
Timkensteel (NYSE:TMST) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. Timkensteel had a negative return on equity of 4.55% and a negative net margin of 1.71%. The business had revenue of $409.90 million for the quarter, compared to analyst estimates of $422.82 million.
A number of analysts have weighed in on the company. Cowen assumed coverage on Timkensteel in a research note on Tuesday. They issued an “outperform” rating and a $12.00 target price on the stock. ValuEngine downgraded Timkensteel from a “hold” rating to a “sell” rating in a report on Monday, October 29th. Finally, Zacks Investment Research raised Timkensteel from a “sell” rating to a “hold” rating in a report on Saturday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Timkensteel presently has an average rating of “Hold” and an average price target of $16.33.
A number of hedge funds have recently made changes to their positions in TMST. Paloma Partners Management Co purchased a new position in Timkensteel during the second quarter valued at approximately $211,000. Russell Investments Group Ltd. boosted its stake in Timkensteel by 148.3% during the second quarter. Russell Investments Group Ltd. now owns 15,061 shares of the basic materials company’s stock worth $246,000 after buying an additional 8,996 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Timkensteel during the third quarter worth $283,000. MetLife Investment Advisors LLC lifted its stake in shares of Timkensteel by 67.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 31,178 shares of the basic materials company’s stock valued at $464,000 after purchasing an additional 12,549 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Timkensteel by 13.1% in the 3rd quarter. LPL Financial LLC now owns 51,169 shares of the basic materials company’s stock valued at $761,000 after purchasing an additional 5,933 shares during the last quarter. Institutional investors own 77.58% of the company’s stock.
TMST stock traded up $0.22 during midday trading on Thursday, reaching $10.53. The company’s stock had a trading volume of 13,164 shares, compared to its average volume of 302,971. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.38. Timkensteel has a 1 year low of $8.18 and a 1 year high of $20.24. The firm has a market cap of $423.55 million, a price-to-earnings ratio of -10.35 and a beta of 1.97.
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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