Timkensteel Corp (NYSE:TMST) – Analysts at Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for shares of Timkensteel in a research report issued on Friday, April 6th. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will earn $0.07 per share for the quarter, down from their prior estimate of $0.10. Jefferies Group also issued estimates for Timkensteel’s Q2 2018 earnings at $0.19 EPS and FY2019 earnings at $1.71 EPS.
Several other research firms also recently weighed in on TMST. Zacks Investment Research upgraded Timkensteel from a “sell” rating to a “hold” rating in a research report on Thursday, March 29th. KeyCorp set a $19.00 target price on Timkensteel and gave the company a “buy” rating in a research report on Friday, March 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Timkensteel currently has a consensus rating of “Hold” and an average target price of $18.60.
Timkensteel (NYSE:TMST) last issued its quarterly earnings data on Thursday, January 25th. The basic materials company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.43). Timkensteel had a negative net margin of 3.33% and a negative return on equity of 7.56%. The business had revenue of $341.40 million during the quarter, compared to analyst estimates of $345.00 million. During the same period in the previous year, the business posted ($1.52) earnings per share. The firm’s revenue for the quarter was up 59.0% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMST. First Dallas Securities Inc. purchased a new position in shares of Timkensteel in the fourth quarter valued at approximately $125,000. Acadian Asset Management LLC purchased a new position in shares of Timkensteel in the fourth quarter valued at approximately $137,000. Trexquant Investment LP purchased a new position in shares of Timkensteel in the third quarter valued at approximately $179,000. Teacher Retirement System of Texas purchased a new position in shares of Timkensteel in the fourth quarter valued at approximately $195,000. Finally, Municipal Employees Retirement System of Michigan lifted 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 in the last quarter. Institutional investors and hedge funds own 75.03% of the company’s stock.
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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