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.