FY2019 EPS Estimates for Timkensteel Corp (TMST) Cut by Gabelli

Timkensteel Corp (NYSE:TMST) – Gabelli lowered their FY2019 earnings estimates for Timkensteel in a note issued to investors on Tuesday, October 30th. Gabelli analyst J. Bergner now forecasts that the basic materials company will earn $1.05 per share for the year, down from their prior estimate of $1.20. Gabelli also issued estimates for Timkensteel’s FY2020 earnings at $1.30 EPS and FY2021 earnings at $1.55 EPS.

Timkensteel (NYSE:TMST) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.03 earnings per share (EPS) 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 firm had revenue of $409.90 million for the quarter, compared to analyst estimates of $422.82 million.

A number of other brokerages have also issued reports on TMST. ValuEngine raised Timkensteel from a “sell” rating to a “hold” rating in a research note on Friday, September 14th. Zacks Investment Research lowered Timkensteel from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price target on shares of Timkensteel in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Timkensteel currently has an average rating of “Hold” and a consensus price target of $17.67.

Shares of NYSE:TMST opened at $11.63 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. Timkensteel has a 12-month low of $10.97 and a 12-month high of $20.24. The stock has a market capitalization of $571.13 million, a price-to-earnings ratio of -11.63 and a beta of 1.87.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investment Partners LTD. acquired a new position in shares of Timkensteel in the 3rd quarter valued at about $934,000. Northern Trust Corp lifted its stake in shares of Timkensteel by 1.2% in the 2nd quarter. Northern Trust Corp now owns 925,266 shares of the basic materials company’s stock valued at $15,128,000 after purchasing an additional 10,813 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Timkensteel in the 2nd quarter valued at about $211,000. Luminus Management LLC lifted its stake in shares of Timkensteel by 14.9% in the 2nd quarter. Luminus Management LLC now owns 981,708 shares of the basic materials company’s stock valued at $16,051,000 after purchasing an additional 127,668 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Timkensteel by 3.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,563,467 shares of the basic materials company’s stock valued at $25,563,000 after purchasing an additional 51,288 shares in the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.

About Timkensteel

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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Earnings History and Estimates for Timkensteel (NYSE:TMST)

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