Timken (TKR) Projected to Post Earnings on Wednesday

Timken (NYSE:TKR) is projected to release its earnings data before the market opens on Wednesday, February 5th. Analysts expect Timken to post earnings of $1.08 per share and revenue of $1.07 billion for the quarter. Timken has set its FY 2024 guidance at 5.550-5.650 EPS and its FY24 guidance at $5.55-5.65 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Timken (NYSE:TKR) last issued 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 return on equity of 14.82% and a net margin of 7.41%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, analysts expect Timken to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Timken Price Performance

TKR opened at $76.65 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The company’s 50 day simple moving average is $74.90 and its 200-day simple moving average is $79.63. Timken has a one year low of $69.35 and a one year high of $94.71. The stock has a market capitalization of $5.37 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.77%. Timken’s dividend payout ratio (DPR) is currently 28.27%.

Analyst Ratings Changes

A number of brokerages recently commented on TKR. Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $82.00 to $93.00 in a research report on Tuesday, December 17th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. DA Davidson dropped their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Citigroup cut their target price on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.40.

Insider Buying and Selling at Timken

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

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.