Today: Today, Macquarie Downgraded TimkenSteel Corp. (TMST) to Underperform

Today, Macquarie Downgraded TimkenSteel Corp. (TMST) to Underperform

TimkenSteel Corp. (NYSE:TMST) was downgraded by investment analysts at Macquarie to an “underperform” rating in a research note issued to investors on Tuesday.

Several other brokerages have also issued reports on TMST. Cowen and Company raised 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. Zacks Investment Research raised shares of TimkenSteel Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st. Finally, Jefferies Group reissued a “hold” rating and set a $9.75 price objective (down previously from $11.00) on shares of TimkenSteel Corp. in a research note on Thursday, September 15th.

TimkenSteel Corp. (NYSE:TMST) opened at 15.09 on Tuesday. TimkenSteel Corp. has a 1-year low of $3.69 and a 1-year high of $15.90. The firm’s market cap is $667.29 million. 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 issued its earnings results on Thursday, October 27th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by $0.02. The business earned $213.80 million during the quarter, compared to the consensus estimate of $215.73 million. TimkenSteel Corp. had a negative net margin of 7.69% and a negative return on equity of 9.78%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the business posted ($0.69) EPS. Analysts expect that TimkenSteel Corp. will post ($1.23) earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMST. First Dallas Securities Inc. bought a new position in shares of TimkenSteel Corp. during the third quarter worth $110,000. BlackRock Inc. raised its position in shares of 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 during the last quarter. Profund Advisors LLC raised its position in shares of 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 during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of 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 during the last quarter. Finally, KCG Holdings Inc. bought a new position in shares of TimkenSteel Corp. during the second quarter worth $137,000. 62.88% of the stock is currently owned by institutional investors and hedge funds.

TimkenSteel Corp. Company Profile

Related posts

Leave a Comment