Rating Buzzer: TimkenSteel Corp (NYSE:TMST) Is a Stock Macquarie Research Is Wary of; Firm Downgrades It

November 29, 2016 - By Marie Mckinney

Rating Buzzer: TimkenSteel Corp (NYSE:TMST) Is a Stock Macquarie Research Is Wary of; Firm Downgrades It

TimkenSteel Corp (NYSE:TMST) Downgrade

In a an analyst report issued on 29 November, Macquarie Research downgraded shares of TimkenSteel Corp (NYSE:TMST) to a “Underperform” rating from a “Neutral” rating.

Timkensteel Corp (NYSE:TMST) Ratings Coverage

Out of 3 analysts covering TimkenSteel (NYSE:TMST), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $28 is the highest target while $8 is the lowest. The $18.50 average target is 25.08% above today’s ($14.79) stock price. TimkenSteel has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Wednesday, January 13, the company rating was downgraded by Jefferies. The stock has “Outperform” rating given by Cowen & Co on Thursday, August 6. Cowen & Co maintained Timkensteel Corp (NYSE:TMST) on Thursday, November 17 with “Outperform” rating. The firm earned “Market Perform” rating on Monday, September 14 by Cowen & Co. The rating was upgraded by Cowen & Co on Thursday, August 11 to “Outperform”. The stock of Timkensteel Corp (NYSE:TMST) earned “Sector Weight” rating by KeyBanc Capital Markets on Monday, August 31. Jefferies maintained Timkensteel Corp (NYSE:TMST) on Wednesday, September 16 with “Buy” rating. The firm has “Market Perform” rating given on Wednesday, February 3 by Cowen & Co.

The stock decreased 1.99% or $0.3 on November 29, hitting $14.79. About 672,852 shares traded hands or 8.89% up from the average. Timkensteel Corp (NYSE:TMST) has risen 21.40% since April 26, 2016 and is uptrending. It has outperformed by 16.14% the S&P500.

Analysts await Timkensteel Corp (NYSE:TMST) to report earnings on January, 26. They expect $-0.41 earnings per share, up 29.31% or $0.17 from last year’s $-0.58 per share. After $-0.38 actual earnings per share reported by Timkensteel Corp for the previous quarter, Wall Street now forecasts 7.89% negative EPS growth.

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 has a market cap of $629.83 million. The Company’s portfolio includes special bar quality bars, seamless mechanical tubing and precision steel components. It currently has negative earnings. It operates in two divisions: Industrial & Mobile and Energy & Distribution.

According to Zacks Investment Research, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio.”

TMST Company Profile

TimkenSteel Corporation, incorporated on October 24, 2013, makes 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 (SBQ) bars, seamless mechanical tubing and precision steel components. The Firm operates in two divisions: 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.

More notable recent Timkensteel Corp (NYSE:TMST) news were published by: Marketwatch.com which released: “TimkenSteel upgraded to outperform from market perform at Cowen & Co.” on July 07, 2014, also Fool.com with their article: “Why Shares of TimkenSteel Corp. Plunged 17% Today” published on May 25, 2016, Fool.com published: “Why TimkenSteel Corporation Stock Fell By 33% in May” on June 08, 2016. More interesting news about Timkensteel Corp (NYSE:TMST) were released by: Quotes.Wsj.com and their article: “TimkenSteel Corp. TMST (US: NYSE)” published on July 01, 2014 as well as Fool.com‘s news article titled: “TimkenSteel Corp. Surges on Earnings” with publication date: January 29, 2016.

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