Timken (TKR) Updates FY18 Earnings Guidance

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.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $767.98 million. Timken had a net margin of 6.77% and a return on equity of 14.55%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. equities analysts predict that Timken will post 3.3 EPS for the current fiscal year.

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.

ILLEGAL ACTIVITY NOTICE: This piece was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://sportsperspectives.com/2018/02/09/timken-tkr-updates-fy18-earnings-guidance.html.

About Timken

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.

Earnings History and Estimates for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply