Brokers Offer Predictions for TimkenSteel Co.’s Q2 2022 Earnings (NYSE:TMST)

TimkenSteel Co. (NYSE:TMSTGet Rating) – Stock analysts at KeyCorp increased their Q2 2022 earnings per share (EPS) estimates for shares of TimkenSteel in a research note issued to investors on Monday, August 1st. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $1.42 for the quarter, up from their previous estimate of $1.39. KeyCorp currently has a “Overweight” rating and a $24.00 target price on the stock. The consensus estimate for TimkenSteel’s current full-year earnings is $3.85 per share.

TimkenSteel (NYSE:TMSTGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. TimkenSteel had a return on equity of 31.05% and a net margin of 14.57%. The business had revenue of $352.00 million for the quarter. During the same quarter in the prior year, the firm posted $0.43 EPS. The business’s quarterly revenue was up 28.7% compared to the same quarter last year.

Separately, StockNews.com upgraded TimkenSteel from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th.

TimkenSteel Trading Up 4.8 %

TMST opened at $17.06 on Wednesday. The stock has a market cap of $795.44 million, a price-to-earnings ratio of 4.62 and a beta of 1.76. TimkenSteel has a 1 year low of $12.04 and a 1 year high of $26.23. The stock has a fifty day moving average price of $19.92 and a 200 day moving average price of $19.38.

Insider Activity

In other news, Director Ken V. Garcia acquired 3,685 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was acquired at an average price of $17.93 per share, for a total transaction of $66,072.05. Following the transaction, the director now directly owns 44,020 shares in the company, valued at $789,278.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TimkenSteel

Large investors have recently added to or reduced their stakes in the company. Boston Partners increased its holdings in TimkenSteel by 55.1% during the 4th quarter. Boston Partners now owns 16,054 shares of the basic materials company’s stock worth $265,000 after purchasing an additional 5,702 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of TimkenSteel by 311.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 343,184 shares of the basic materials company’s stock worth $5,663,000 after buying an additional 259,832 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of TimkenSteel by 45.0% during the 4th quarter. Pacer Advisors Inc. now owns 302,081 shares of the basic materials company’s stock worth $4,984,000 after buying an additional 93,733 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in TimkenSteel by 856.2% in the 4th quarter. First Eagle Investment Management LLC now owns 44,672 shares of the basic materials company’s stock valued at $737,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in TimkenSteel by 0.9% in the 4th quarter. Rhumbline Advisers now owns 123,295 shares of the basic materials company’s stock valued at $2,034,000 after purchasing an additional 1,062 shares during the last quarter. Institutional investors own 75.88% of the company’s stock.

TimkenSteel Company Profile

(Get Rating)

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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Earnings History and Estimates for TimkenSteel (NYSE:TMST)

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