Timkensteel Corp (TMST) was Reiterated by Cowen to “Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 13 from a previous price target of $8 . Cowen advised their investors in a research report released on Jun 1, 2016.
On the company’s financial health, Timkensteel Corp reported $-0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.41. The company had revenue of $217.90 million for the quarter, 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.
Timkensteel Corp (TMST) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $9.01 and reached the intraday high at $9.19. The bulls started the profit booking and pushed the shares to intraday low of $8.91. The trading session was marked by a volume range of 8,67,873 shares exchanging hands. The 52-week high of the shares is $31.9 and the 52-week low is $3.69. The market cap of the company stands at $401 M and there are 4,42,20,054 shares in public circulation.
In a different news, on May 27, 2016, Ward J Jr Timken (CEO) purchased 20,000 shares at $9.00 per share price. According to the SEC, on May 12, 2016, Ronald A Rice (director) purchased 5,000 shares at $11.13 per share price. On Aug 25, 2015, Randall H Edwards (director) purchased 3,650 shares at $16.64 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.