DA Davidson Weighs in on Timken’s FY2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Equities research analysts at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for Timken in a research note issued to investors on Wednesday, November 6th. DA Davidson analyst M. Shlisky now anticipates that the industrial products company will post earnings of $5.57 per share for the year, down from their prior forecast of $6.07. DA Davidson has a “Buy” rating and a $99.00 price target on the stock. The consensus estimate for Timken’s current full-year earnings is $5.62 per share. DA Davidson also issued estimates for Timken’s Q4 2024 earnings at $0.93 EPS.

A number of other research analysts have also issued reports on the stock. Citigroup initiated coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Oppenheimer dropped their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday. KeyCorp cut their price target on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Evercore ISI lowered their price objective on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.60.

Timken Stock Performance

Shares of TKR opened at $76.85 on Thursday. The company has a quick ratio of 1.64, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. Timken has a 12 month low of $70.15 and a 12 month high of $94.71. The company’s fifty day moving average is $82.41 and its 200-day moving average is $83.76. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.43.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 earnings per share.

Institutional Investors Weigh In On Timken

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after purchasing an additional 347,794 shares in the last quarter. American Century Companies Inc. lifted its holdings in Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after buying an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after purchasing an additional 97,550 shares during the period. Finally, Earnest Partners LLC boosted its position in shares of Timken by 2.1% in the second quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock valued at $105,957,000 after acquiring an additional 26,671 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.