Macquarie Lowers TimkenSteel Corp. (TMST) to Underperform
TimkenSteel Corp. (NYSE:TMST) was downgraded by investment analysts at Macquarie to an “underperform” rating in a note issued to investors on Tuesday.
TMST has been the subject of several other reports. Zacks Investment Research raised shares of TimkenSteel Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Jefferies Group reissued a “hold” rating and set a $9.75 target price (down from $11.00) on shares of TimkenSteel Corp. in a research note on Thursday, September 15th. Finally, Cowen and Company increased their target price on shares of TimkenSteel Corp. from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, November 17th.
Shares of TimkenSteel Corp. (NYSE:TMST) opened at 15.09 on Tuesday. The stock’s market capitalization is $667.29 million. TimkenSteel Corp. has a 1-year low of $3.69 and a 1-year high of $15.90. The firm has a 50-day moving average of $11.69 and a 200 day moving average of $10.34.
TimkenSteel Corp. (NYSE:TMST) last posted its earnings results on Thursday, October 27th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by $0.02. TimkenSteel Corp. had a negative return on equity of 9.78% and a negative net margin of 7.69%. The firm earned $213.80 million during the quarter, compared to the consensus estimate of $215.73 million. During the same quarter last year, the company posted ($0.69) EPS. TimkenSteel Corp.’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts anticipate that TimkenSteel Corp. will post ($1.23) earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in TimkenSteel Corp. by 191.2% in the second quarter. BlackRock Inc. now owns 11,076 shares of the company’s stock worth $107,000 after buying an additional 7,272 shares in the last quarter. First Dallas Securities Inc. purchased a new stake in TimkenSteel Corp. during the third quarter worth about $110,000. BNP Paribas Arbitrage SA raised its stake in TimkenSteel Corp. by 84.3% in the second quarter. BNP Paribas Arbitrage SA now owns 12,903 shares of the company’s stock worth $124,000 after buying an additional 5,901 shares in the last quarter. Profund Advisors LLC raised its stake in TimkenSteel Corp. by 8.3% in the second quarter. Profund Advisors LLC now owns 12,840 shares of the company’s stock worth $124,000 after buying an additional 982 shares in the last quarter. Finally, KCG Holdings Inc. purchased a new stake in TimkenSteel Corp. during the second quarter worth about $137,000. Institutional investors and hedge funds own 62.88% of the company’s stock.
About TimkenSteel Corp.
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 (SBQ) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution.
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