Timkensteel Corp (TMST) Closes Up Big on Smaller Than Expected 4th Quarter Losses

Share

Shares of Timkensteel Corp (NYSE:TMST) closed trading on Friday up nearly 75% from yesterday’s close, after the company reported just a $25.5 million loss for 4th quarter 2015. This equated to a $0.58 share loss, which was better than Wall Street had been expecting by about $0.10.

“While we continue to feel the impact from weak global commodity markets and high customer inventory levels, our cost reduction efforts and pace of new business from innovation reduced the losses we anticipated in the quarter,” Ward “Tim” Timken, chairman, chief executive officer and president, explained.

Additionally Timkensteel Corp (NYSE:TMST) expects to see first quarter 2016 shipments come in at around 5% higher than this past quarter, and lose between $10 and $20 million. The stock increased 74.95% or $3.86 on January 29, hitting $9.01. About 6.76 million shares traded hands or up 514.55% from the average. TMST has declined 82.73% since June 24, 2015 and is currently downtrending. It has underperformed the S&P500 by 72.52%.

From a total of 3 analysts covering TimkenSteel (NYSE:TMST) stock, 0 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 0 of the ratings are positive. The highest target price is $28 while the lowest target price is $12. The mean of all analyst targets is $16 which is 77.58% above today’s ($9.01) stock price. TimkenSteel was the topic of 5 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Jefferies downgraded shares on January 13 to a “Hold” rating. Jefferies maintained shares with a”Buy” rating and a $20 target share price in their report from a September 16. KeyBanc Capital Markets initiated TMST stock in a recent report from August 31 with a “Sector Weight” rating.

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 $252.22 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.

#focuskw=’Timkensteel Corp (NYSE:TMST)’##metadesc=’Shares of Timkensteel Corp (NYSE:TMST) closed trading on Friday up nearly 75% from yesterday’s close, after the company reported just a $25.5 million loss for 4th quarter 2015. This equated to a $0.58 share loss, which was better than Wall Street had been expecting by about $0.10.

“While we continue to feel the impact from weak global commodity markets and high customer inventory levels, our cost reduction efforts and pace of new business from innovation reduced the losses we anticipated in the quarter,” Ward “Tim” Timken, chairman, chief executive officer and president, explained.

Additionally Timkensteel Corp (NYSE:TMST) expects to see first quarter 2016 shipments come in at around 5% higher than this past quarter, and lose between $10 and $20 million. ‘##metarobot=’index’##newskw=’Sony Corp (ADR) news,Sony Corp (ADR) – (NYSE:SNE),NYSE:SNE Analyst rating analysis,Stock Analysis,Outlook and potential,SNE Price change and trend,SNE stock update’##sitemap=’include’##skipsocial##stockticker=’NYSE:TMST’#

COMMENTS: