Cormark Equities Analysts Cut Earnings Estimates for Tree Island Steel Ltd. (TSL)

Tree Island Steel Ltd. (TSE:TSL) – Equities research analysts at Cormark cut their FY2017 earnings per share estimates for Tree Island Steel in a research report issued to clients and investors on Friday. Cormark analyst G. Fairweather now expects that the company will post earnings of $0.36 per share for the year, down from their prior forecast of $0.37.

Several other brokerages have also commented on TSL. Raymond James Financial, Inc. reiterated an “outperform” rating and set a C$5.75 price target on shares of Tree Island Steel in a research note on Tuesday, May 2nd. Paradigm Capital cut their price target on shares of Tree Island Steel from C$5.75 to C$5.50 in a research note on Monday, February 27th. Finally, Canaccord Genuity cut their price target on shares of Tree Island Steel from C$6.00 to C$5.25 and set a “buy” rating on the stock in a research note on Monday, February 27th.

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Shares of Tree Island Steel (TSE:TSL) remained flat at $4.47 during trading on Monday. The company’s stock had a trading volume of 44,800 shares. The company has a 50 day moving average price of $4.36 and a 200 day moving average price of $4.62. The company has a market cap of $138.86 million and a PE ratio of 10.25. Tree Island Steel has a 12-month low of $3.14 and a 12-month high of $6.55.

Tree Island Steel Company Profile

Tree Island Steel Ltd. is a Canada-based manufacturer and supplier of wire products for a range of applications. The Company is engaged in making products from steel wire for a range of customers for industrial, construction, agricultural and specialty applications. The Company’s products include galvanized wire, bright wire, an array of fasteners, including packaged, collated and bulk nails, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products.

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