Stock analysts expect The Timken Company (NYSE: TKR – Get a rating) will post $1.13 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts provided estimates of Timken’s earnings, with estimates ranging from $1.12 billion to $1.15 billion. Timken posted sales of $1.06 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Timken to report annual sales of $4.48 billion for the current year, with estimates ranging from $4.47 billion to $4.50 billion. For next year, analysts expect the company to record sales of $4.79 billion, with estimates ranging from $4.76 billion to $4.85 billion. Zacks sales averages are an average based on a survey of sell-side research companies that track Timken.
Timken (NYSE: TKR – Get a rating) last reported quarterly earnings data on Monday, May 2. The industrial products company reported earnings per share (EPS) of $1.61 for the quarter, beating consensus analyst estimates of $1.15 by $0.46. Timken had a net margin of 8.84% and a return on equity of 15.97%. The company posted revenue of $1.12 billion in the quarter, versus $1.11 billion expected by analysts. In the same quarter of the previous year, the company achieved EPS of $1.38. The company’s revenue increased 9.6% year over year.
TKR has been the subject of a number of recent analyst reports. Morgan Stanley lowered its price target on Timken shares from $76.00 to $72.00 and set an “equal weight” rating for the company in a Monday, April 18 report. KeyCorp cut its price target on Timken shares from $84.00 to $75.00 in a Tuesday, May 3 research note. StockNews.com upgraded Timken shares from a “hold” to a “buy” rating in a Tuesday, May 3, research note. Evercore ISI upgraded Timken shares from an “in-line” rating to an “outperforming” rating and set a price target of $78.00 for the company in a Tuesday, February 15 research note. They noted that the move was a review call. Finally, Oppenheimer began covering Timken shares in a research note on Wednesday, April 13. They issued an “outperform” rating and a price target of $75.00 for the company. Five investment analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus buy quote and a consensus price target of $77.10.
Shares of Timken stock opened at $58.28 on Friday. Timken has a 52-week low of $55.32 and a 52-week high of $90.60. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 11.94, a growth price-to-earnings ratio of 0.91 and a beta of 1.56. The company has a fifty-day moving average of $60.02 and a 200-day moving average of $66.05. The company has a debt ratio of 0.74, a quick ratio of 1.66 and a current ratio of 2.94.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2. Shareholders of record on Monday, May 16 will receive a dividend of $0.31 per share. This is a boost from Timken’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, May 13. This represents a dividend of $1.24 on an annualized basis and a yield of 2.13%. Timken’s dividend payout ratio (DPR) is currently 24.59%.
In related news, CFO Philip D. Fracassa sold 5,000 shares of the company in a trade on Friday, February 18. The shares were sold at an average price of $68.32, for a total value of $341,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Insiders of the company own 10.79% of the shares of the company.
Hedge funds have recently changed their holdings in the company. TCI Wealth Advisors Inc. increased its position in Timken by 101.7% in the fourth quarter. TCI Wealth Advisors Inc. now owns 361 shares of the industrial products company valued at $25,000 after buying 182 more shares in the last quarter. CWM LLC acquired a new position in Timken in Q4, valued at approximately $28,000. Confluence Wealth Services Inc. acquired a new position in Timken stock during the fourth quarter worth approximately $30,000. GPS Wealth Strategies Group LLC acquired a new stake in Timken during the first quarter worth approximately $30,000. Finally, Covestor Ltd purchased a new stake in Timken in the fourth quarter valued at around $70,000. Institutional investors and hedge funds hold 80.18% of the company’s shares.
About Timken (Get a rating)
The Timken Company designs, manufactures and services engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-road equipment for the agriculture, construction, mining, power equipment markets outdoor and motor sports; and road vehicles, including passenger cars, light trucks and medium and heavy trucks, as well as wagons and locomotives.
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