Research Analysts Set Expectations for Timkensteel Corp’s FY2019 Earnings (TMST)

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

Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Timkensteel from a “hold” rating to a “sell” rating in a research report on Friday, May 17th. Cowen lowered Timkensteel from an “outperform” rating to a “market perform” rating and lifted their target price for the company 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 issued a hold rating and one has issued a buy rating to the company’s stock. Timkensteel presently has a consensus rating of “Hold” and a consensus target price of $15.38.

Shares of NYSE TMST opened at $7.95 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.66 and a quick ratio of 0.91. The firm has a market cap of $371.56 million, a price-to-earnings ratio of 39.52 and a beta of 2.24. Timkensteel has a twelve month low of $7.87 and a twelve month high of $18.84.

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

Several large investors have recently made changes to their positions in TMST. Bank of New York Mellon Corp increased its holdings in shares of Timkensteel by 146.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,128,161 shares of the basic materials company’s stock valued at $16,775,000 after acquiring an additional 670,666 shares during the period. MetLife Investment Advisors LLC grew its stake in Timkensteel by 67.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 31,178 shares of the basic materials company’s stock worth $464,000 after buying an additional 12,549 shares during the last quarter. Legal & General Group Plc grew its stake in Timkensteel by 9.0% during the 3rd quarter. Legal & General Group Plc now owns 92,739 shares of the basic materials company’s stock worth $1,373,000 after buying an additional 7,672 shares during the last quarter. Vanguard Group Inc. grew its stake in Timkensteel by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,749,573 shares of the basic materials company’s stock worth $55,756,000 after buying an additional 78,059 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in Timkensteel by 4.8% during the 3rd quarter. Teachers Advisors LLC now owns 87,184 shares of the basic materials company’s stock worth $1,296,000 after buying an additional 3,985 shares during the last quarter. Institutional investors and hedge funds own 75.35% of the company’s stock.

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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Earnings History and Estimates for Timkensteel (NYSE:TMST)

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