Zacks Research Estimates Timken’s FY2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Analysts at Zacks Research dropped their FY2024 EPS estimates for Timken in a research report issued to clients and investors on Wednesday, December 18th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $5.60 for the year, down from their prior estimate of $5.62. The consensus estimate for Timken’s current full-year earnings is $5.61 per share. Zacks Research also issued estimates for Timken’s Q4 2024 earnings at $0.97 EPS.

Timken (NYSE:TKR) last released 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). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company earned $1.55 EPS. Timken’s quarterly revenue was down 1.4% on a year-over-year basis.

A number of other brokerages have also issued reports on TKR. Citigroup raised Timken from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $90.00 in a research report on Monday, December 9th. Oppenheimer dropped their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $93.00 in a research note on Tuesday. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and upped their target price for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.90.

Timken Price Performance

TKR stock opened at $71.63 on Friday. The stock has a 50-day moving average price of $78.91 and a two-hundred day moving average price of $81.14. Timken has a 1 year low of $70.20 and a 1 year high of $94.71. The stock has a market cap of $5.02 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s payout ratio is currently 28.27%.

Insider Transactions at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

Institutional investors and hedge funds have recently made changes to their positions in the company. Coastline Trust Co bought a new position in shares of Timken in the 3rd quarter worth approximately $29,000. Livelsberger Financial Advisory purchased a new position in shares of Timken during the 3rd quarter worth about $32,000. UMB Bank n.a. boosted its stake in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Timken during the 2nd quarter worth $44,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Timken in the 3rd quarter worth approximately $74,000. Institutional investors own 89.08% of the company’s stock.

About Timken

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.