Equities research analysts expect Timken Steel Corporation (NYSE:TMST) to report sales of $349.75 million for the current quarter, Zacks reports. Two analysts have issued estimates for Timken Steel Corporation’s earnings, with estimates ranging from $348.00 million to $351.50 million. Timken Steel Corporation posted sales of $213.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 63.6%. The company is scheduled to issue its next earnings report on Thursday, October 26th.

On average, analysts expect that Timken Steel Corporation will report full year sales of $349.75 million for the current fiscal year, with estimates ranging from $1.30 billion to $1.32 billion. For the next year, analysts forecast that the company will post sales of $1.41 billion per share, with estimates ranging from $1.37 billion to $1.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Timken Steel Corporation.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, July 18th. BidaskClub raised Timken Steel Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Cowen and Company set a $23.00 price objective on Timken Steel Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, ValuEngine raised Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Timken Steel Corporation presently has a consensus rating of “Hold” and an average price target of $18.83.

Shares of Timken Steel Corporation (NYSE:TMST) traded up 4.94% during mid-day trading on Friday, reaching $14.44. The company had a trading volume of 1,501,316 shares. Timken Steel Corporation has a 1-year low of $8.47 and a 1-year high of $23.00. The company’s market capitalization is $641.48 million. The stock’s 50-day moving average price is $15.03 and its 200 day moving average price is $15.76.

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Several institutional investors have recently made changes to their positions in TMST. BlackRock Inc. lifted its stake in shares of Timken Steel Corporation by 51,982.7% in the 1st quarter. BlackRock Inc. now owns 4,911,398 shares of the basic materials company’s stock valued at $92,873,000 after purchasing an additional 4,901,968 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Timken Steel Corporation by 30.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,016,049 shares of the basic materials company’s stock valued at $57,032,000 after purchasing an additional 699,127 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Timken Steel Corporation by 100.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock valued at $17,144,000 after purchasing an additional 557,976 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Timken Steel Corporation by 115.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,039,610 shares of the basic materials company’s stock valued at $19,659,000 after purchasing an additional 556,559 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Timken Steel Corporation by 22.0% in the 2nd quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock valued at $29,719,000 after purchasing an additional 348,031 shares during the last quarter. 75.61% of the stock is currently owned by institutional investors and hedge funds.

Timken Steel Corporation Company Profile

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.

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