Timkensteel (NYSE:TMST) Releases Quarterly Earnings Results, Beats Estimates By $0.45 EPS

Timkensteel (NYSE:TMST) posted its earnings results on Thursday. The basic materials company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.45, Fidelity Earnings reports. The business had revenue of $336.70 million during the quarter, compared to the consensus estimate of $368.67 million. Timkensteel had a positive return on equity of 1.71% and a negative net margin of 1.60%. Timkensteel’s revenue was down 18.6% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS.

Shares of Timkensteel stock traded up $0.33 during midday trading on Friday, hitting $6.78. 660,242 shares of the company were exchanged, compared to its average volume of 304,915. The firm has a 50 day simple moving average of $7.32. Timkensteel has a 52 week low of $6.37 and a 52 week high of $15.41. The company has a market capitalization of $302.42 million, a price-to-earnings ratio of 61.64 and a beta of 2.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.91 and a current ratio of 2.66.

TMST has been the subject of several analyst reports. Zacks Investment Research downgraded Timkensteel from a “hold” rating to a “sell” rating in a research report on Saturday, July 13th. ValuEngine upgraded Timkensteel from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, TheStreet downgraded Timkensteel from a “c-” rating to a “d+” rating in a research report on Monday, June 17th.

In other Timkensteel news, Director Ronald A. Rice purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $7.52 per share, with a total value of $75,200.00. Following the acquisition, the director now directly owns 70,183 shares of the company’s stock, valued at approximately $527,776.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.70% of the company’s stock.

About Timkensteel

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.

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Earnings History for Timkensteel (NYSE:TMST)

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