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TimkenSteel (TMST) Gains As Market Dips: What You Should Know
TimkenSteel (TMST - Free Report) closed the most recent trading day at $19.03, moving +1.22% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.15%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the maker of steel large bars and seamless mechanical tubing had lost 4.95% in the past month. In that same time, the Basic Materials sector lost 7.87%, while the S&P 500 gained 1.44%.
Wall Street will be looking for positivity from TimkenSteel as it approaches its next earnings report date. This is expected to be August 4, 2022. The company is expected to report EPS of $1.32, up 37.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $411.35 million, up 25.68% from the year-ago period.
TMST's full-year Zacks Consensus Estimates are calling for earnings of $3.85 per share and revenue of $1.52 billion. These results would represent year-over-year changes of +19.94% and +18.55%, respectively.
Investors might also notice recent changes to analyst estimates for TimkenSteel. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.23% lower. TimkenSteel is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, TimkenSteel currently has a Forward P/E ratio of 4.88. This represents a premium compared to its industry's average Forward P/E of 2.94.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.