Timken (NYSE:TKR) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.20-3.30 for the period, compared to the Thomson Reuters consensus estimate of $3.24. The company issued revenue guidance of +9-10% to ~$3.27-3.30 billion, compared to the consensus revenue estimate of $3.28 billion.
A number of brokerages recently issued reports on TKR. Zacks Investment Research raised shares of Timken from a hold rating to a buy rating and set a $62.00 price target on the stock in a report on Tuesday, January 23rd. Jefferies Group raised shares of Timken from a hold rating to a buy rating in a report on Thursday, January 18th. Longbow Research raised shares of Timken from a neutral rating to a buy rating in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus lowered their price target on shares of Timken from $53.00 to $52.00 and set a hold rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Timken presently has a consensus rating of Hold and an average price target of $52.25.
Timken (NYSE:TKR) opened at $43.95 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.38 and a debt-to-equity ratio of 0.58. The firm has a market cap of $3,570.39, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44. Timken has a 12-month low of $41.78 and a 12-month high of $55.65.
In other Timken news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the completion of the transaction, the insider now directly owns 89,236 shares in the company, valued at $4,439,491. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.08% of the company’s stock.
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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