$762.25 Million in Sales Expected for Timken Company (The) (TKR) This Quarter

Analysts expect Timken Company (The) (NYSE:TKR) to post sales of $762.25 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Timken Company (The)’s earnings. The lowest sales estimate is $760.00 million and the highest is $764.50 million. Timken Company (The) reported sales of $657.40 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, October 26th.

On average, analysts expect that Timken Company (The) will report full year sales of $762.25 million for the current year, with estimates ranging from $2.96 billion to $2.99 billion. For the next financial year, analysts forecast that the firm will report sales of $3.21 billion per share, with estimates ranging from $3.19 billion to $3.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Timken Company (The).

Timken Company (The) (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The business had revenue of $750.60 million during the quarter, compared to analyst estimates of $716.50 million. During the same quarter last year, the business earned $0.55 earnings per share. Timken Company (The)’s quarterly revenue was up 11.4% compared to the same quarter last year.

Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Timken Company (The) from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Goldman Sachs Group, Inc. (The) lowered shares of Timken Company (The) from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the company from $55.00 to $51.00 in a report on Monday, August 7th. Jefferies Group LLC restated a “hold” rating and issued a $45.00 price objective on shares of Timken Company (The) in a report on Friday, July 14th. ValuEngine lowered shares of Timken Company (The) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $53.00 price objective on shares of Timken Company (The) in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Timken Company (The) currently has a consensus rating of “Hold” and a consensus target price of $46.83.

Several hedge funds have recently added to or reduced their stakes in the stock. World Asset Management Inc increased its stake in shares of Timken Company (The) by 0.3% during the first quarter. World Asset Management Inc now owns 5,194 shares of the industrial products company’s stock worth $235,000 after buying an additional 18 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Timken Company (The) by 0.5% during the second quarter. Teacher Retirement System of Texas now owns 5,618 shares of the industrial products company’s stock worth $260,000 after buying an additional 26 shares during the period. Honkamp Krueger Financial Services Inc. increased its stake in shares of Timken Company (The) by 0.6% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 6,510 shares of the industrial products company’s stock worth $301,000 after buying an additional 41 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Timken Company (The) by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,244 shares of the industrial products company’s stock worth $474,000 after buying an additional 47 shares during the period. Finally, Sterling Capital Management LLC increased its stake in shares of Timken Company (The) by 0.3% during the second quarter. Sterling Capital Management LLC now owns 18,698 shares of the industrial products company’s stock worth $865,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 79.62% of the company’s stock.

Shares of Timken Company (NYSE:TKR) remained flat at $48.15 during midday trading on Wednesday. 9,233 shares of the company’s stock traded hands. Timken Company has a 12 month low of $31.60 and a 12 month high of $51.75. The company has a market cap of $3.75 billion, a PE ratio of 23.90 and a beta of 1.37. The company has a 50-day moving average of $44.68 and a 200 day moving average of $45.64.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 18th. This represents a $1.08 dividend on an annualized basis and a yield of 2.24%. Timken Company (The)’s dividend payout ratio (DPR) is presently 51.67%.

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About Timken Company (The)

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

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Earnings History and Estimates for Timken Company (The) (NYSE:TKR)

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