Analysts expect that Timkensteel Corp (NYSE:TMST) will post sales of $292.51 million for the current quarter, Zacks reports. Three analysts have made estimates for Timkensteel’s earnings, with the highest sales estimate coming in at $294.00 million and the lowest estimate coming in at $291.33 million. Timkensteel posted sales of $409.90 million during the same quarter last year, which suggests a negative year over year growth rate of 28.6%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Timkensteel will report full-year sales of $1.31 billion for the current financial year, with estimates ranging from $1.29 billion to $1.36 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.38 billion, with estimates ranging from $1.28 billion to $1.51 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Timkensteel.

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

TMST has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Timkensteel from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Saturday, July 13th. Cowen restated a “market perform” rating and set a $7.50 price target (down from $8.25) on shares of Timkensteel in a report on Tuesday, August 6th. Gabelli restated a “buy” rating on shares of Timkensteel in a report on Tuesday, August 6th. Finally, TheStreet cut shares of Timkensteel from a “c-” rating to a “d+” rating in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.25.

In related news, CEO Ward J. Timken, Jr. bought 30,000 shares of Timkensteel stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 182,712 shares in the company, valued at $1,123,678.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristopher R. Westbrooks bought 7,350 shares of Timkensteel stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $6.65 per share, with a total value of $48,877.50. Following the purchase, the insider now owns 36,750 shares of the company’s stock, valued at approximately $244,387.50. The disclosure for this purchase can be found here. 8.70% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMST. THB Asset Management bought a new stake in shares of Timkensteel in the first quarter valued at about $4,486,000. Morgan Stanley lifted its stake in shares of Timkensteel by 205.3% in the second quarter. Morgan Stanley now owns 533,845 shares of the basic materials company’s stock valued at $4,340,000 after buying an additional 358,960 shares during the period. BlackRock Inc. lifted its stake in shares of Timkensteel by 2.2% in the second quarter. BlackRock Inc. now owns 6,155,898 shares of the basic materials company’s stock valued at $50,048,000 after buying an additional 132,438 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Timkensteel in the second quarter valued at about $764,000. Finally, Invesco Ltd. lifted its stake in shares of Timkensteel by 24.4% in the second quarter. Invesco Ltd. now owns 412,116 shares of the basic materials company’s stock valued at $3,351,000 after buying an additional 80,741 shares during the period. Institutional investors and hedge funds own 72.10% of the company’s stock.

NYSE:TMST remained flat at $$5.65 during trading hours on Tuesday. 357,331 shares of the company were exchanged, compared to its average volume of 381,830. 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 12-month low of $5.28 and a 12-month high of $15.41. The business has a 50 day moving average of $6.68 and a 200-day moving average of $9.18. The company has a market cap of $253.21 million, a P/E ratio of 51.36 and a beta of 2.38.

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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