Markets

TimkenSteel Slumps: TMST Tanks 19.6% in Session

TimkenSteel Corporation ( TMST ) saw a big move last session, as the company's shares fell nearly 20% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for TMST, as the stock is now down over 30% since Sep 2.

On Sep 11, TimkenSteel announced that its EBITDA for the third quarter of 2015 could be a loss between $30- $40 million hit by depressed commodity prices resulting in a steep drop in industrial demand.

This slump shouldn't be too much of a surprise to investors, as the steel producing company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 60 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

TSMT currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.

Investors interested in the Steel industry may consider better-ranked stock like ThyssenKrupp AG ( TYEKF ), which carries a Zacks Rank #2 (Buy).

Is TMST going up? Or down? Predict to see what others think: Up or Down

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

TIMKENSTEEL CP (TMST): Free Stock Analysis Report

THYSSEN A G (TYEKF): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

TMSTTYEKF

Other Topics

Investing Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More