Timkensteel Corp (TMST) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $-0.41. The company posted revenue of $217.90 million in the period, compared to analysts expectations of $214.87 million. The company’s revenue was down -43.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.
Many Wall Street Analysts have commented on Timkensteel Corp. Shares were Reiterated by Cowen on Feb 3, 2016 to “Market Perform” and Lowered the Price Target to $ 8 from a previous price target of $12 .
Timkensteel Corp opened for trading at $12.42 and hit $13.01 on the upside on Wednesday, eventually ending the session at $12.92, with a gain of 3.94% or 0.49 points. The heightened volatility saw the trading volume jump to 7,82,467 shares. Company has a market cap of $571 M.
In a different news, on Nov 25, 2015, Ward J Jr Timken (CEO) purchased 10,000 shares at $9.84 per share price. According to the SEC, on Aug 25, 2015, Randall H Edwards (director) purchased 3,650 shares at $16.64 per share price. On Aug 18, 2015, Diane C Creel (director) purchased 2,000 shares at $18.55 per share price, according to the Form-4 filing with the securities and exchange commission.
TimkenSteel Corporation manufactures alloy steel as well as carbon and micro-alloy steel with an annual melt capacity of approximately two million tons. The Companys portfolio includes special bar quality (SBQ) 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 Companys 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 Companys 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.