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TimkenSteel (TMST) Dips More Than Broader Markets: What You Should Know
In the latest trading session, TimkenSteel (TMST - Free Report) closed at $17.42, marking a -1.25% move from the previous day. This change lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the maker of steel large bars and seamless mechanical tubing had lost 17.3% over the past month, outpacing the Basic Materials sector's loss of 17.94% and lagging the S&P 500's gain of 1.51% in that time.
Wall Street will be looking for positivity from TimkenSteel as it approaches its next earnings report date. In that report, analysts expect TimkenSteel to post earnings of $1.31 per share. This would mark year-over-year growth of 36.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $411.35 million, up 25.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.15 per share and revenue of $1.52 billion, which would represent changes of +29.28% and +18.55%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for TimkenSteel. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. TimkenSteel is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, TimkenSteel is holding a Forward P/E ratio of 4.25. This represents a premium compared to its industry's average Forward P/E of 2.76.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.