Zacks: Analysts Expect TimkenSteel (TMST) Will Post Quarterly Sales of $422.80 Million
04 Jun,2018
On average, analysts expect that TimkenSteel will report full year sales of $1.56 billion for the current fiscal year, with estimates ranging from $1.40 billion to $1.67 billion. For the next year, analysts forecast that the firm will post sales of $1.73 billion per share, with estimates ranging from $1.55 billion to $1.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for TimkenSteel.
TimkenSteel (NYSE:TMST) last issued its quarterly earnings data on Thursday, April 26th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.12). TimkenSteel had a negative return on equity of 7.08% and a negative net margin of 2.92%. The business had revenue of $380.80 million during the quarter, compared to analysts’ expectations of $372.50 million. During the same quarter last year, the business posted ($0.12) EPS. The company’s quarterly revenue was up 23.1% on a year-over-year basis.
A number of research firms recently commented on TMST. KeyCorp raised TimkenSteel from a “sector weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a research note on Monday, February 12th. Zacks Investment Research raised TimkenSteel from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, ValuEngine raised TimkenSteel from a “sell” rating to a “hold” rating in a research note on Tuesday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.60.
In other news, VP Tina M. Beskid sold 2,361 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $17.33, for a total transaction of $40,916.13. Following the transaction, the vice president now directly owns 20,303 shares of the company’s stock, valued at $351,850.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.20% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of TimkenSteel by 381.1% during the third quarter. Wells Fargo & Company MN now owns 167,385 shares of the basic materials company’s stock valued at $2,762,000 after buying an additional 132,592 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of TimkenSteel by 13.6% during the fourth quarter. OppenheimerFunds Inc. now owns 58,733 shares of the basic materials company’s stock valued at $892,000 after buying an additional 7,032 shares during the last quarter. Royce & Associates LP grew its stake in shares of TimkenSteel by 30.7% during the fourth quarter. Royce & Associates LP now owns 1,488,988 shares of the basic materials company’s stock valued at $22,618,000 after buying an additional 349,687 shares during the last quarter. Barings LLC bought a new position in shares of TimkenSteel during the fourth quarter valued at about $769,000. Finally, Spark Investment Management LLC bought a new position in shares of TimkenSteel during the fourth quarter valued at about $429,000. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TMST stock traded down $0.26 on Friday, reaching $17.48. The company’s stock had a trading volume of 15,895 shares, compared to its average volume of 386,625. The company has a market capitalization of $779.26 million, a PE ratio of -17.48 and a beta of 2.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.99 and a current ratio of 2.08. TimkenSteel has a 12-month low of $17.43 and a 12-month high of $18.03.