G.Research Weighs in on Timkensteel Corp’s FY2021 Earnings (NYSE:TMST)

Timkensteel Corp (NYSE:TMST) – Equities researchers at G.Research dropped their FY2021 earnings estimates for shares of Timkensteel in a note issued to investors on Monday, November 11th. G.Research analyst J. Bergner now anticipates that the basic materials company will post earnings per share of $0.45 for the year, down from their previous estimate of $0.60. G.Research has a “Buy” rating on the stock. G.Research also issued estimates for Timkensteel’s FY2023 earnings at $0.80 EPS.

Timkensteel (NYSE:TMST) last announced its earnings results on Wednesday, November 6th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.35. Timkensteel had a negative net margin of 3.20% and a negative return on equity of 0.08%. The company had revenue of $274.20 million during the quarter, compared to analysts’ expectations of $293.67 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was down 33.1% compared to the same quarter last year.

TMST has been the subject of several other reports. Cowen reiterated a “market perform” rating and set a $7.50 price objective (down from $8.25) on shares of Timkensteel in a research note on Tuesday, August 6th. JPMorgan Chase & Co. downgraded shares of Timkensteel from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $9.00 to $5.00 in a research note on Monday. Gabelli restated a “buy” rating on shares of Timkensteel in a research note on Tuesday, August 6th. Finally, ValuEngine upgraded shares of Timkensteel from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.83.

Timkensteel stock traded up $0.36 during trading on Tuesday, reaching $5.83. The company had a trading volume of 169,742 shares, compared to its average volume of 334,631. Timkensteel has a 12-month low of $4.86 and a 12-month high of $14.58. The stock’s 50 day moving average price is $6.05 and its two-hundred day moving average price is $7.04. The firm has a market capitalization of $329.88 million, a price-to-earnings ratio of 53.00 and a beta of 2.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 3.41.

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

Large investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY lifted its holdings in shares of Timkensteel by 34.0% during the first quarter. Metropolitan Life Insurance Co NY now owns 13,135 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 3,331 shares during the period. WINTON GROUP Ltd boosted its stake in Timkensteel by 18.2% during the 2nd quarter. WINTON GROUP Ltd now owns 44,485 shares of the basic materials company’s stock valued at $362,000 after purchasing an additional 6,840 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Timkensteel by 6.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 31,390 shares of the basic materials company’s stock valued at $255,000 after purchasing an additional 1,808 shares during the last quarter. KBC Group NV purchased a new stake in Timkensteel during the 2nd quarter valued at $114,000. Finally, Aperio Group LLC boosted its stake in Timkensteel by 72.6% during the 2nd quarter. Aperio Group LLC now owns 39,825 shares of the basic materials company’s stock valued at $324,000 after purchasing an additional 16,748 shares during the last quarter. 70.27% of the stock is currently owned by institutional investors.

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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