FY2020 EPS Estimates for Timkensteel Corp (NYSE:TMST) Cut by Analyst

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Timkensteel Corp (NYSE:TMST) – Research analysts at KeyCorp lowered their FY2020 earnings per share estimates for shares of Timkensteel in a note issued to investors on Tuesday, August 6th. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $0.70 per share for the year, down from their previous estimate of $0.80.

Other analysts have also issued research reports about the stock. Cowen reiterated a “market perform” rating and set a $7.50 target price (down previously from $8.25) on shares of Timkensteel in a research note on Tuesday. Gabelli reiterated a “buy” rating on shares of Timkensteel in a research note on Tuesday. TheStreet lowered shares of Timkensteel from a “c-” rating to a “d+” rating in a research note on Monday, June 17th. Zacks Investment Research lowered shares of Timkensteel from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. Finally, ValuEngine upgraded shares of Timkensteel from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.25.

TMST stock opened at $6.46 on Thursday. The company has a current ratio of 3.11, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. Timkensteel has a 1-year low of $6.00 and a 1-year high of $15.41. The company’s fifty day simple moving average is $7.27. The company has a market capitalization of $296.68 million, a price-to-earnings ratio of 58.73 and a beta of 2.38.

Timkensteel (NYSE:TMST) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.45. Timkensteel had a negative net margin of 2.52% and a positive return on equity of 0.99%. The business had revenue of $336.70 million during the quarter, compared to analyst estimates of $368.67 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was down 18.6% compared to the same quarter last year.

In other news, CEO Ward J. Timken, Jr. purchased 30,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $6.15 per share, for a total transaction of $184,500.00. Following the completion of the transaction, the chief executive officer now owns 182,712 shares of the company’s stock, valued at $1,123,678.80. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald A. Rice purchased 10,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average price of $7.52 per share, with a total value of $75,200.00. Following the transaction, the director now directly owns 70,183 shares of the company’s stock, valued at approximately $527,776.16. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 47,350 shares of company stock valued at $308,578. 8.70% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. THB Asset Management acquired a new stake in Timkensteel in the 1st quarter valued at about $4,486,000. Principal Financial Group Inc. lifted its holdings in Timkensteel by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 318,522 shares of the basic materials company’s stock valued at $2,784,000 after acquiring an additional 1,726 shares during the last quarter. South Dakota Investment Council lifted its holdings in Timkensteel by 26.2% in the 1st quarter. South Dakota Investment Council now owns 179,119 shares of the basic materials company’s stock valued at $1,945,000 after acquiring an additional 37,138 shares during the last quarter. Keybank National Association OH lifted its holdings in Timkensteel by 33.6% in the 2nd quarter. Keybank National Association OH now owns 127,610 shares of the basic materials company’s stock valued at $1,037,000 after acquiring an additional 32,069 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Timkensteel by 8.1% in the 4th quarter. Legal & General Group Plc now owns 100,215 shares of the basic materials company’s stock valued at $876,000 after acquiring an additional 7,476 shares during the last quarter. Institutional investors and hedge funds own 74.83% 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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