Posted by admin on May 11th, 2022

TimkenSteel Co. (NYSE:TMST – Get Rating) – Equities research analysts at KeyCorp raised their FY2022 earnings per share estimates for TimkenSteel in a note issued to investors on Monday, May 9th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $4.20 for the year, up from their previous estimate of $3.80. KeyCorp has a “Overweight” rating and a $27.00 price target on the stock.

TimkenSteel (NYSE:TMST – Get Rating) last announced its earnings results on Wednesday, May 4th. The basic materials company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. The company had revenue of $352.00 million during the quarter. TimkenSteel had a net margin of 14.57% and a return on equity of 31.05%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share.

A number of other analysts have also issued reports on the stock. StockNews.com lowered shares of TimkenSteel from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised shares of TimkenSteel from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research report on Wednesday, March 2nd.

NYSE TMST opened at $17.65 on Wednesday. The company has a 50 day simple moving average of $21.15 and a 200-day simple moving average of $17.37. The firm has a market capitalization of $822.95 million, a price-to-earnings ratio of 4.78 and a beta of 1.77. TimkenSteel has a 52-week low of $11.68 and a 52-week high of $24.99.

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of TimkenSteel by 2.9% in the fourth quarter. California State Teachers Retirement System now owns 25,258 shares of the basic materials company’s stock worth $417,000 after acquiring an additional 718 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of TimkenSteel by 6.8% in the fourth quarter. Maryland State Retirement & Pension System now owns 16,297 shares of the basic materials company’s stock worth $269,000 after acquiring an additional 1,033 shares during the last quarter. Rhumbline Advisers grew its stake in shares of TimkenSteel by 0.9% in the fourth quarter. Rhumbline Advisers now owns 123,295 shares of the basic materials company’s stock worth $2,034,000 after acquiring an additional 1,062 shares during the last quarter. Comerica Bank grew its stake in shares of TimkenSteel by 3.1% in the third quarter. Comerica Bank now owns 37,241 shares of the basic materials company’s stock worth $480,000 after acquiring an additional 1,118 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of TimkenSteel by 7.0% in the fourth quarter. Guggenheim Capital LLC now owns 18,702 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 1,229 shares during the last quarter. 75.88% of the stock is currently owned by institutional investors.

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services. The company's products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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