Analysts Anticipate Timken Co (TKR) Will Announce Earnings of $1.09 Per Share

Equities analysts expect that Timken Co (NYSE:TKR) will announce earnings of $1.09 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Timken’s earnings. Timken posted earnings of $0.68 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 60.3%. The firm is scheduled to announce its next earnings results on Wednesday, July 25th.

On average, analysts expect that Timken will report full-year earnings of $3.97 per share for the current financial year, with EPS estimates ranging from $3.95 to $4.01. For the next fiscal year, analysts forecast that the business will report earnings of $4.51 per share, with EPS estimates ranging from $4.44 to $4.60. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Timken.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.17. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $836.56 million. Timken had a net margin of 7.71% and a return on equity of 16.55%. Timken’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share.

TKR has been the topic of several research reports. Vertical Research upgraded shares of Timken from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Saturday, March 24th. Stifel Nicolaus upgraded shares of Timken from a “hold” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $60.00 in a research note on Monday, May 28th. ValuEngine upgraded shares of Timken from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. Finally, Bank of America increased their price objective on shares of Timken from $50.00 to $51.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 22nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.60.

TKR traded down $0.55 on Friday, hitting $47.95. 6,002 shares of the company’s stock were exchanged, compared to its average volume of 791,201. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.51. Timken has a twelve month low of $41.85 and a twelve month high of $55.65. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.58.

The company also recently announced a quarterly dividend, which was paid on Monday, June 4th. Shareholders of record on Friday, May 18th were given a $0.28 dividend. This is a boost from Timken’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $1.12 annualized dividend and a yield of 2.34%. Timken’s dividend payout ratio is 42.59%.

In other news, Director Frank C. Sullivan bought 2,000 shares of the firm’s stock in a transaction on Thursday, May 3rd. The stock was purchased at an average price of $44.85 per share, for a total transaction of $89,700.00. Following the transaction, the director now owns 46,932 shares in the company, valued at $2,104,900.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ward J. Timken, Jr. sold 4,002 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $49.10, for a total transaction of $196,498.20. Following the completion of the transaction, the director now owns 269,902 shares of the company’s stock, valued at approximately $13,252,188.20. The disclosure for this sale can be found here. 11.15% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TKR. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Timken by 66.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 26,072 shares of the industrial products company’s stock valued at $1,189,000 after acquiring an additional 10,434 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Timken by 2.9% in the first quarter. Principal Financial Group Inc. now owns 299,769 shares of the industrial products company’s stock valued at $13,669,000 after acquiring an additional 8,575 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Timken by 41.7% in the first quarter. Royal Bank of Canada now owns 74,917 shares of the industrial products company’s stock valued at $3,416,000 after acquiring an additional 22,043 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Timken in the first quarter valued at approximately $801,000. Finally, Millennium Management LLC boosted its holdings in shares of Timken by 46.9% in the first quarter. Millennium Management LLC now owns 1,060,345 shares of the industrial products company’s stock valued at $48,352,000 after acquiring an additional 338,365 shares in the last quarter. Hedge funds and other institutional investors own 77.25% of the company’s stock.

Timken Company Profile

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Earnings History and Estimates for Timken (NYSE:TKR)

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