Brokers Issue Forecasts for Timken’s Q4 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Stock analysts at Zacks Research reduced their Q4 2024 EPS estimates for Timken in a research report issued on Tuesday, November 19th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $0.99 per share for the quarter, down from their prior estimate of $1.28. The consensus estimate for Timken’s current full-year earnings is $5.61 per share.

TKR has been the subject of several other research reports. DA Davidson reduced their price objective 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 reissued a “sector weight” rating on shares of Timken in a research report on Friday. Citigroup began coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective for the company. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, Oppenheimer decreased their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $90.00.

Timken Price Performance

TKR stock opened at $75.96 on Friday. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.09 and a beta of 1.43. Timken has a fifty-two week low of $71.57 and a fifty-two week high of $94.71. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $81.45 and a 200 day moving average price of $82.90.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (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 business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is 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 the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after acquiring an additional 347,794 shares during the period. BOKF NA grew its holdings in Timken by 2.3% in the first quarter. BOKF NA now owns 12,369 shares of the industrial products company’s stock valued at $1,087,000 after purchasing an additional 275 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Timken by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 89,317 shares of the industrial products company’s stock valued at $7,810,000 after buying an additional 1,667 shares in the last quarter. Kodai Capital Management LP acquired a new position in shares of Timken during the 1st quarter worth $9,130,000. Finally, Interval Partners LP purchased a new stake in shares of Timken in the 1st quarter worth about $22,907,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.