Jefferies Group Equities Analysts Raise Earnings Estimates for Timkensteel Corp (TMST)

Timkensteel Corp (NYSE:TMST) – Jefferies Group raised their FY2018 earnings per share estimates for Timkensteel in a research report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of $1.66 per share for the year, up from their previous estimate of $1.60. Jefferies Group has a “Hold” rating and a $18.00 price objective on the stock.

TMST has been the subject of several other research reports. Zacks Investment Research cut Timkensteel from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. JPMorgan Chase & Co. initiated coverage on Timkensteel in a research note on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 price target for the company. KeyCorp cut Timkensteel from a “sector weight” rating to an “underweight” rating and set a $12.00 price target for the company. in a research note on Wednesday, December 6th. BidaskClub cut Timkensteel from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 13th. Finally, ValuEngine cut Timkensteel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.20.

Timkensteel (NYSE:TMST) traded down $0.26 during mid-day trading on Wednesday, hitting $16.96. The stock had a trading volume of 600,400 shares, compared to its average volume of 514,733. Timkensteel has a 52-week low of $12.48 and a 52-week high of $23.00. The company has a quick ratio of 1.05, a current ratio of 2.21 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $753.73, a PE ratio of -10.04 and a beta of 2.11.

Timkensteel (NYSE:TMST) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.05). Timkensteel had a negative return on equity of 3.98% and a negative net margin of 1.74%. The business had revenue of $339.10 million during the quarter, compared to analysts’ expectations of $351.50 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the business. Trexquant Investment LP bought a new stake in Timkensteel during the third quarter valued at about $179,000. BNP Paribas Arbitrage SA grew its holdings in Timkensteel by 52.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock valued at $194,000 after purchasing an additional 4,327 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Timkensteel during the third quarter valued at about $212,000. Dynamic Technology Lab Private Ltd bought a new stake in Timkensteel during the third quarter valued at about $223,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in Timkensteel by 58.7% during 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 purchasing an additional 5,420 shares during the period. 72.62% of the stock is owned by institutional investors and hedge funds.

In related news, insider Tina M. Beskid sold 2,548 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $13.68, for a total transaction of $34,856.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is currently owned by corporate insiders.

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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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