The Timken Company (NYSE:TKR) Expected to Post Earnings of $1.36 Per Share

Wall Street analysts forecast that The Timken Company (NYSE:TKRGet Rating) will report $1.36 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Timken’s earnings. The lowest EPS estimate is $1.25 and the highest is $1.46. Timken posted earnings of $1.37 per share in the same quarter last year, which would suggest a negative year over year growth rate of 0.7%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Timken will report full-year earnings of $5.30 per share for the current financial year, with EPS estimates ranging from $5.20 to $5.46. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.14 per share, with EPS estimates ranging from $5.96 to $6.36. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Timken.

Timken (NYSE:TKRGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The industrial products company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.46. Timken had a net margin of 8.84% and a return on equity of 15.97%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The business’s revenue was up 9.6% compared to the same quarter last year.

TKR has been the subject of a number of recent research reports. The Goldman Sachs Group cut their target price on Timken from $74.00 to $64.00 and set a “neutral” rating for the company in a research note on Thursday, April 7th. Morgan Stanley decreased their target price on shares of Timken from $76.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Monday, April 18th. Oppenheimer assumed coverage on Timken in a research note on Wednesday, April 13th. They issued an “outperform” rating and a $75.00 price objective on the stock. KeyCorp cut their target price on Timken from $84.00 to $75.00 in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research upgraded Timken from a “sell” rating to a “hold” rating and set a $59.00 price target on the stock in a research report on Thursday, April 7th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $77.10.

Shares of TKR stock traded up $0.02 during mid-day trading on Friday, reaching $60.15. The stock had a trading volume of 1,413 shares, compared to its average volume of 503,077. Timken has a one year low of $55.32 and a one year high of $90.60. The firm has a market cap of $4.46 billion, a PE ratio of 12.32, a P/E/G ratio of 0.92 and a beta of 1.56. The firm’s 50 day simple moving average is $59.91 and its 200 day simple moving average is $65.88. The company has a quick ratio of 1.66, a current ratio of 2.94 and a debt-to-equity ratio of 0.74.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.30. Timken’s dividend payout ratio (DPR) is presently 25.41%.

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 18th. 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.79% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Timken by 1.4% in the third quarter. BlackRock Inc. now owns 5,862,718 shares of the industrial products company’s stock valued at $383,536,000 after acquiring an additional 78,321 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Timken by 10.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,153,514 shares of the industrial products company’s stock valued at $287,797,000 after purchasing an additional 380,333 shares during the last quarter. American Century Companies Inc. grew its position in shares of Timken by 23.2% during the 1st quarter. American Century Companies Inc. now owns 2,962,788 shares of the industrial products company’s stock worth $179,841,000 after buying an additional 557,534 shares during the period. Franklin Resources Inc. raised its stake in shares of Timken by 15.6% during the third quarter. Franklin Resources Inc. now owns 2,675,477 shares of the industrial products company’s stock worth $175,030,000 after buying an additional 360,294 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Timken by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,477,824 shares of the industrial products company’s stock valued at $162,110,000 after acquiring an additional 72,762 shares during the last quarter. Institutional investors own 80.18% of the company’s stock.

About Timken (Get Rating)

The Timken Company designs, manufactures, and manages 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-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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