FY2021 EPS Estimates for Timkensteel Corp Reduced by Analyst (NYSE:TMST)

Timkensteel Corp (NYSE:TMST) – Investment analysts at Jefferies Financial Group reduced their FY2021 EPS estimates for Timkensteel in a research report issued to clients and investors on Tuesday, November 12th. Jefferies Financial Group analyst M. Englert now anticipates that the basic materials company will post earnings per share of $0.76 for the year, down from their prior forecast of $0.83.

Other equities analysts have also issued research reports about the company. Exane BNP Paribas started coverage on Timkensteel in a research report on Thursday. They issued an “underperform” rating and a $5.50 price target for the company. JPMorgan Chase & Co. lowered Timkensteel from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $9.00 to $5.00 in a research report on Monday. Gabelli reaffirmed a “buy” rating on shares of Timkensteel in a research report on Tuesday, August 6th. ValuEngine raised Timkensteel from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, G.Research reaffirmed a “buy” rating on shares of Timkensteel in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Timkensteel presently has an average rating of “Hold” and a consensus price target of $7.25.

TMST opened at $5.64 on Wednesday. The stock has a 50-day moving average price of $6.00 and a 200-day moving average price of $6.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.41 and a quick ratio of 1.13. The firm has a market cap of $245.17 million, a PE ratio of 51.27 and a beta of 2.47. Timkensteel has a 1 year low of $4.86 and a 1 year high of $14.58.

Timkensteel (NYSE:TMST) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.35. The firm had revenue of $274.20 million during the quarter, compared to analyst estimates of $293.67 million. Timkensteel had a negative return on equity of 0.08% and a negative net margin of 3.20%. Timkensteel’s quarterly revenue was down 33.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS.

In other Timkensteel news, CEO Ward J. Timken, Jr. bought 15,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $4.94 per share, with a total value of $74,100.00. Following the transaction, the chief executive officer now owns 197,712 shares in the company, valued at $976,697.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ward J. Timken, Jr. bought 10,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average cost of $5.83 per share, with a total value of $58,300.00. Following the transaction, the chief executive officer now owns 197,712 shares in the company, valued at approximately $1,152,660.96. The disclosure for this purchase can be found here. In the last three months, insiders acquired 26,250 shares of company stock valued at $138,763. 8.70% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of TMST. Bank of Montreal Can increased its position in shares of Timkensteel by 2,789.3% during the 2nd quarter. Bank of Montreal Can now owns 3,496 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 3,375 shares during the last quarter. Tyers Asset Management LLC increased its position in shares of Timkensteel by 25.2% during the 2nd quarter. Tyers Asset Management LLC now owns 9,184 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 1,848 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Timkensteel during the 2nd quarter valued at about $82,000. Menta Capital LLC purchased a new stake in shares of Timkensteel during the 2nd quarter valued at about $89,000. Finally, Huntington National Bank increased its position in shares of Timkensteel by 145.9% during the 3rd quarter. Huntington National Bank now owns 10,955 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 6,500 shares during the last quarter. 70.27% of the stock is owned by institutional investors and hedge funds.

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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