An interesting stock that came up in some of our conversations today is TimkenSteel Corporation (NYSE:TMST). At current price of $7.54, the shares have already lost -0.41 points (-5.16% lower) from its previous close of $7.95. Should you buy or avoid them? The stock sets an active trading volume day with a reported 261528 contracts so far this session. TMST shares had a relatively better volume day versus average trading capacity of 270.8 thousand shares, but with a 36.56 million float and a -12.25% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TMST stock indicates that the average analyst price target is $15.38 per share. This means the stock has a potential increase of 103.98% from where the TMST share price has been trading recently which is between $7.87 and $8.26. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $9.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of TMST earnings conference call or presentation 3-May-19 1:00pm GMT” and dated May 07, 2019.
Looking at the current readings for TimkenSteel Corporation, the two-week RSI stands at 24.32. This figure suggests that TMST stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current TMST readings is similarly very revealing as it has a stochastic reading of 3.12% at this stage. This figure means that TMST share price today is being overbought.
Technical chart claims that TimkenSteel Corporation (TMST) would settle between $8.18/share to $8.42/share level. However, if the stock price goes below the $7.79 mark, then the market for TimkenSteel Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $7.64 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.53. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Cowen lowered their recommendation on shares of TMST from Outperform to Market Perform in their opinion released on February 26. Cowen, analysts launched coverage of TimkenSteel Corporation (NYSE:TMST) stock with a Outperform recommendation, according to their flash note issued to investors on January 09. Analysts at KeyBanc Capital Mkts lowered the stock to a Sector Weight call from its previous Overweight recommendation, in a research note that dated back to July 30.
TMST equity has an average rating of 2.67, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated TimkenSteel Corporation (NYSE:TMST) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TMST stock price is currently trading at 8.03X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.22 while for the average stock in the same group, the multiple is 0.82.
TimkenSteel Corporation (TMST)’s current-quarter revenues are projected to climb by nearly -11.72% to hit $365060, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -6.22% from $1.61 billion to a noteworthy $1.51 billion. At the other end of the current quarter income statement, TimkenSteel Corporation is expected to see its adjusted earnings surge by roughly -242.86% to hit $-0.3 per share. For the fiscal year, TMST’s earnings are projected to climb by roughly 118.18% to hit $0.24 per share.