Timkensteel Corp (TMST) Issues Earnings Results
Resource from: Ticker Report Likes:168
Jan 29,2016
Timkensteel Corp logoTimkensteel Corp (NYSE:TMST) issued its quarterly earnings data on Thursday. The company reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.10, Market Beat Ratings reports. During the same period in the prior year, the company earned $0.37 EPS. The company had revenue of $206.60 million for the quarter, compared to the consensus estimate of $225.70 million. The firm’s revenue was down 49.4% compared to the same quarter last year.
TMST has been the topic of a number of analyst reports. Jefferies Group downgraded shares of Timkensteel Corp from a “buy” rating to a “hold” rating and set a $4.50 price target on the stock. in a research report on Wednesday, January 13th. Zacks Investment Research upgraded shares of Timkensteel Corp from a “sell” rating to a “hold” rating in a research report on Friday, October 30th. Four analysts have rated the stock with a hold rating, Timkensteel Corp presently has an average rating of “Hold” and a consensus price target of $13.83.
In other Timkensteel Corp news, CEO Ward J. Timken, Jr. bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 24th. The shares were purchased at an average price of $9.84 per share, for a total transaction of $98,400.00. Following the completion of the transaction, the chief executive officer now directly owns 105,527 shares in the company, valued at approximately $1,038,385.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Timkensteel Corp (NYSE:TMST) traded up 3.41% during mid-day trading on Thursday, hitting $5.15. 620,213 shares of the company were exchanged. The company’s market capitalization is $227.59 million. The firm has a 50 day moving average of $6.77 and a 200 day moving average of $12.76. Timkensteel Corp has a 12-month low of $3.69 and a 12-month high of $33.41.
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Company’s portfolio includes special bar quality (NYSE:TMST) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution. In addition, it supplies machining and thermal treatment services and manages raw material recycling programs, which are used as a feeder system for the Company’s operations. Its customers are companies in the market sectors, including oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defense; heavy truck; agriculture, and power generation. The Company’s steels are featured in a variety of end products, including oil drill pipe; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts, and anti-friction bearings, among others.
(Ticker Report)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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