Analysts Set Timkensteel Corp (NYSE:TMST) Target Price at $19.00

Timkensteel Corp (NYSE:TMST) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.00.

Timkensteel Corp (NYSE:TMST) traded down 2.63% during trading on Monday, hitting $8.16. 497,044 shares of the stock were exchanged. The firm’s market capitalization is $360.61 million. The company has a 50-day moving average price of $9.12 and a 200 day moving average price of $15.64. Timkensteel Corp has a 1-year low of $7.15 and a 1-year high of $37.47.

Timkensteel Corp (NYSE:TMST) last issued its earnings results on Thursday, October 29th. The company reported ($0.69) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.10. During the same period last year, the firm posted $0.56 EPS. The business earned $232.70 million during the quarter, compared to analysts’ expectations of $253.39 million. Timkensteel Corp’s quarterly revenue was down 46.4% compared to the same quarter last year. Equities analysts predict that Timkensteel Corp will post ($1.75) earnings per share for the current fiscal year.

In other Timkensteel Corp news, CEO Ward J. Timken, Jr. purchased 10,000 shares of the company’s stock in a transaction on Tuesday, November 24th. The stock was acquired at an average cost of $9.84 per share, for a total transaction of $98,400.00. Following the purchase, the chief executive officer now directly owns 105,527 shares of the company’s stock, valued at approximately $1,038,385.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

TMST has been the subject of several research reports. Jefferies Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Timkensteel Corp in a research report on Tuesday, September 15th. Cowen and Company lowered shares of Timkensteel Corp from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $28.00 to $12.00 in a research report on Monday, September 14th. Finally, Zacks Investment Research raised shares of Timkensteel Corp from a “sell” rating to a “hold” rating in a research report on Friday, October 30th.

12 Month Chart for NYSE:TMST

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 (NYSE:TMST) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution. In addition, it supplies machining and thermal treatment services and manages raw material recycling programs, which are used as a feeder system for the Company’s operations. Its customers are companies in the market sectors, including oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defense; heavy truck; agriculture, and power generation. The Company’s steels are featured in a variety of end products, including oil drill pipe; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts, and anti-friction bearings, among others.

 

Latest News

Oracle Buying Textura at a Price of $663 Million
Oracle Buying Textura at a Price of $663 Million
AB InBev Offering More Assets of SABMiller in Europe to Win EU Approval
AB InBev Offering More Assets of SABMiller in Europe to Win EU Approval
Verizon Working With Authorities On Sabotage Incidents
Verizon Working With Authorities On Sabotage Incidents
UPS Profit Increases During First Quarter by 10%
UPS Profit Increases During First Quarter by 10%
Consumers Buying Fewer Apple Products, Sales Slump Worldwide
Consumers Buying Fewer Apple Products, Sales Slump Worldwide
Boeing Profit Drops on Lag in Commercial Deliveries
Boeing Profit Drops on Lag in Commercial Deliveries


Leave a Reply

 
© 2006-2017 The Vista Voice. Subscribe