Timkensteel (NYSE:TMST) Posts Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Timkensteel (NYSE:TMST) posted its earnings results on Wednesday. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.35, Briefing.com reports. Timkensteel had a positive return on equity of 0.99% and a negative net margin of 2.52%. The firm had revenue of $274.20 million for the quarter, compared to analysts’ expectations of $293.67 million. During the same period in the previous year, the firm earned $0.03 earnings per share. The business’s revenue was down 33.1% compared to the same quarter last year.

Shares of NYSE TMST traded up $1.12 during mid-day trading on Thursday, hitting $7.19. 769,286 shares of the stock traded hands, compared to its average volume of 322,560. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.15 and a current ratio of 3.11. Timkensteel has a 52 week low of $4.86 and a 52 week high of $14.58. The company has a market cap of $296.26 million, a price-to-earnings ratio of 65.36 and a beta of 2.47. The stock has a fifty day moving average price of $6.02 and a 200-day moving average price of $7.09.

In other news, CEO Ward J. Timken, Jr. purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average cost of $5.83 per share, for a total transaction of $58,300.00. Following the completion of the transaction, the chief executive officer now directly owns 197,712 shares of the company’s stock, valued at approximately $1,152,660.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ward J. Timken, Jr. purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $4.94 per share, for a total transaction of $74,100.00. Following the completion of the transaction, the chief executive officer now directly owns 197,712 shares of the company’s stock, valued at $976,697.28. The disclosure for this purchase can be found here. Insiders have purchased 26,250 shares of company stock worth $138,763 over the last 90 days. 8.70% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on TMST shares. Zacks Investment Research cut Timkensteel from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. G.Research reissued a “buy” rating on shares of Timkensteel in a research note on Tuesday, August 6th. Cowen reissued a “market perform” rating and set a $7.50 target price (down from $8.25) on shares of Timkensteel in a research note on Tuesday, August 6th. Gabelli reissued a “buy” rating on shares of Timkensteel in a research note on Tuesday, August 6th. Finally, ValuEngine raised Timkensteel from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Timkensteel currently has a consensus rating of “Hold” and a consensus target price of $9.25.

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 for Timkensteel (NYSE:TMST)

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