Timken (TKR) Updates FY18 Earnings Guidance

Timken (NYSE:TKR) issued an update on its FY18 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.18-4.23 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.19. The company issued revenue guidance of approx $3.59 billion, compared to the consensus revenue estimate of $3.64 billion.Timken also updated its FY 2018 guidance to $4.18-4.23 EPS.

TKR stock traded down $0.66 during mid-day trading on Tuesday, hitting $36.59. The stock had a trading volume of 63,860 shares, compared to its average volume of 794,548. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57. Timken has a 52 week low of $36.50 and a 52 week high of $55.65. The firm has a market cap of $2.90 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.60 and a beta of 1.58.

Timken (NYSE:TKR) last released its earnings results on Monday, October 29th. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). Timken had a net margin of 7.60% and a return on equity of 18.39%. The firm had revenue of $881.30 million during the quarter, compared to the consensus estimate of $912.58 million. During the same period in the prior year, the business earned $0.71 earnings per share. Timken’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities analysts predict that Timken will post 4.17 EPS for the current year.

TKR has been the topic of several recent analyst reports. ValuEngine lowered shares of Timken from a sell rating to a strong sell rating in a report on Monday, July 2nd. KeyCorp raised their target price on shares of Timken from $54.00 to $60.00 and gave the company an overweight rating in a report on Wednesday, August 1st. Bank of America raised shares of Timken from an underperform rating to a neutral rating and set a $56.00 target price on the stock in a report on Wednesday, August 8th. Goldman Sachs Group initiated coverage on shares of Timken in a report on Tuesday, October 2nd. They issued a neutral rating and a $56.00 target price on the stock. Finally, Zacks Investment Research raised shares of Timken from a hold rating to a buy rating and set a $49.00 target price on the stock in a report on Saturday, October 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $56.20.

In other news, insider Shelly Marie Chadwick sold 1,043 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $48.85, for a total value of $50,950.55. Following the sale, the insider now directly owns 3,102 shares in the company, valued at approximately $151,532.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Philip D. Fracassa sold 3,582 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $48.39, for a total transaction of $173,332.98. Following the completion of the sale, the chief financial officer now owns 43,534 shares in the company, valued at $2,106,610.26. The disclosure for this sale can be found here. Company insiders own 11.15% of the company’s stock.

About Timken

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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