Analysts expect Timken Steel Corporation (NYSE:TMST) to report sales of $349.75 million for the current quarter, Zacks Investment Research 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 reported sales of $213.80 million in the same quarter last year, which indicates a positive year over year growth rate of 63.6%. The company is expected to report its next earnings report after the market closes on Thursday, October 26th.

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

A number of research analysts have issued reports on TMST shares. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, July 18th. Cowen and Company reiterated an “outperform” rating and set a $23.00 price target on shares of Timken Steel Corporation in a research report on Monday, June 26th. BidaskClub lowered Timken Steel Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Timken Steel Corporation presently has an average rating of “Hold” and a consensus target price of $18.38.

Several institutional investors have recently made changes to their positions in the company. Phocas Financial Corp. lifted its holdings in shares of Timken Steel Corporation by 4.7% in the second quarter. Phocas Financial Corp. now owns 369,148 shares of the basic materials company’s stock valued at $5,674,000 after buying an additional 16,458 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Timken Steel Corporation by 32.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 28,214 shares of the basic materials company’s stock valued at $434,000 after buying an additional 6,909 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Timken Steel Corporation by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 31,650 shares of the basic materials company’s stock valued at $487,000 after buying an additional 924 shares during the period. State Street Corp lifted its holdings in shares of Timken Steel Corporation by 22.0% in the second quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock valued at $29,719,000 after buying an additional 348,031 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Timken Steel Corporation by 2.7% in the second quarter. Goldman Sachs Group Inc. now owns 72,632 shares of the basic materials company’s stock valued at $1,116,000 after buying an additional 1,886 shares during the period. Institutional investors and hedge funds own 75.61% of the company’s stock.

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Timken Steel Corporation (NYSE TMST) opened at 16.86 on Thursday. The stock’s market cap is $748.99 million. Timken Steel Corporation has a 52-week low of $9.39 and a 52-week high of $23.00. The firm has a 50-day moving average price of $15.10 and a 200 day moving average price of $15.34.

About Timken Steel Corporation

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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