Zacks: Brokerages Anticipate The Timken Company (NYSE:TKR) Will Post Earnings of $1.30 Per Share

Brokerages predict that The Timken Company (NYSE:TKR) will post earnings of $1.30 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for The Timken’s earnings, with the lowest EPS estimate coming in at $1.15 and the highest estimate coming in at $1.39. The Timken posted earnings of $1.13 per share during the same quarter last year, which suggests a positive year over year growth rate of 15%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that The Timken will report full-year earnings of $5.20 per share for the current financial year, with EPS estimates ranging from $4.90 to $5.41. For the next fiscal year, analysts anticipate that the business will report earnings of $5.97 per share, with EPS estimates ranging from $5.70 to $6.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover The Timken.

The Timken (NYSE:TKR) last announced its earnings results on Sunday, August 1st. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. The Timken had a net margin of 9.29% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 EPS.

A number of equities analysts recently commented on TKR shares. Morgan Stanley lowered their target price on shares of The Timken from $91.00 to $84.00 and set an “equal weight” rating for the company in a research note on Monday, August 9th. Evercore ISI lowered their target price on shares of The Timken from $87.00 to $78.00 in a research note on Thursday. Finally, Jefferies Financial Group lowered their target price on shares of The Timken from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $90.25.

A number of hedge funds and other institutional investors have recently made changes to their positions in TKR. First Horizon Corp boosted its holdings in shares of The Timken by 6.0% in the 1st quarter. First Horizon Corp now owns 2,204 shares of the industrial products company’s stock valued at $178,000 after buying an additional 124 shares during the period. AlphaMark Advisors LLC increased its position in shares of The Timken by 1.7% in the second quarter. AlphaMark Advisors LLC now owns 8,229 shares of the industrial products company’s stock worth $663,000 after acquiring an additional 141 shares in the last quarter. Arizona State Retirement System grew its position in The Timken by 0.7% during the first quarter. Arizona State Retirement System now owns 19,743 shares of the industrial products company’s stock valued at $1,603,000 after purchasing an additional 142 shares in the last quarter. Carnegie Capital Asset Management LLC grew its position in The Timken by 3.3% during the second quarter. Carnegie Capital Asset Management LLC now owns 4,503 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 142 shares in the last quarter. Finally, HM Payson & Co. grew its position in The Timken by 4.0% in the second quarter. HM Payson & Co. now owns 3,900 shares of the industrial products company’s stock worth $314,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 80.33% of the company’s stock.

Shares of NYSE:TKR traded down $1.65 during trading on Wednesday, hitting $65.77. The company’s stock had a trading volume of 4,193 shares, compared to its average volume of 559,951. The business has a 50 day moving average price of $74.99 and a two-hundred day moving average price of $80.57. The company has a market capitalization of $5.02 billion, a PE ratio of 14.41, a P/E/G ratio of 6.83 and a beta of 1.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 2.56. The Timken has a fifty-two week low of $52.51 and a fifty-two week high of $92.39.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.82%. The Timken’s dividend payout ratio is presently 29.27%.

About The Timken

The Timken Co engages in the engineering, manufacturing and marketing of bearings and power transmission products. It offers gearboxes, belts, chain, lubrication systems, couplings, industrial clutches and brakes. It operates through the Mobile Industries and Process Industries segments. The Mobile Industries segment serves OEM customers that manufacture off-highway equipment for the agricultural, mining and construction markets; on-highway vehicles including passenger cars, light trucks, and medium- and heavy-duty trucks; rail cars and locomotives; outdoor power equipment; and rotorcraft and fixed-wing aircraft.

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Earnings History and Estimates for The Timken (NYSE:TKR)

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