Timkensteel Corp (TMST) to Post Q1 2018 Earnings of $0.10 Per Share, KeyCorp Forecasts

Timkensteel Corp (NYSE:TMST) – Equities researchers at KeyCorp reduced their Q1 2018 EPS estimates for shares of Timkensteel in a research report issued on Thursday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $0.10 per share for the quarter, down from their prior forecast of $0.16. KeyCorp currently has a “Buy” rating and a $19.00 target price on the stock.

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Timkensteel (NYSE:TMST) last issued its earnings results on Thursday, January 25th. The basic materials company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.43). The business had revenue of $341.40 million during the quarter, compared to analysts’ expectations of $345.00 million. Timkensteel had a negative return on equity of 7.56% and a negative net margin of 3.33%. Timkensteel’s revenue for the quarter was up 59.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.52) EPS.

Separately, Zacks Investment Research upgraded shares of Timkensteel from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $18.60.

Timkensteel stock opened at $17.37 on Monday. The company has a market cap of $772.55, a price-to-earnings ratio of -17.55 and a beta of 2.05. Timkensteel has a 52-week low of $12.48 and a 52-week high of $20.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.98 and a quick ratio of 0.90.

Several hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in shares of Timkensteel by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 31,650 shares of the basic materials company’s stock valued at $487,000 after acquiring an additional 924 shares during the period. Pinebridge Investments L.P. increased its position in shares of Timkensteel by 6.4% in the fourth quarter. Pinebridge Investments L.P. now owns 59,369 shares of the basic materials company’s stock valued at $902,000 after acquiring an additional 3,586 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Timkensteel by 58.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,650 shares of the basic materials company’s stock valued at $242,000 after acquiring an additional 5,420 shares during the period. White Pine Capital LLC increased its position in shares of Timkensteel by 8.6% in the fourth quarter. White Pine Capital LLC now owns 69,757 shares of the basic materials company’s stock valued at $1,060,000 after acquiring an additional 5,550 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in shares of Timkensteel by 53.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 16,648 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 5,800 shares during the period. Hedge funds and other institutional investors own 75.03% 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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