Analysts Anticipate Timken Co (TKR) to Announce $1.06 Earnings Per Share

Equities research analysts expect that Timken Co (NYSE:TKR) will report $1.06 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Timken’s earnings. Timken reported earnings of $0.71 per share in the same quarter last year, which indicates a positive year over year growth rate of 49.3%. The business is expected to report its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Timken will report full year earnings of $4.17 per share for the current financial year, with EPS estimates ranging from $4.15 to $4.20. For the next year, analysts forecast that the business will report earnings of $4.65 per share, with EPS estimates ranging from $4.35 to $4.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Timken.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The company had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $904.77 million. Timken had a net margin of 7.60% and a return on equity of 18.39%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share.

A number of brokerages have recently weighed in on TKR. Goldman Sachs Group began coverage on shares of Timken in a research report on Tuesday, October 2nd. They set a “neutral” rating and a $56.00 price target on the stock. CL King began coverage on shares of Timken in a research report on Thursday, June 28th. They set a “neutral” rating on the stock. ValuEngine cut shares of Timken from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. KeyCorp raised shares of Timken from a “sector weight” rating to an “overweight” rating and set a $54.00 price target on the stock in a research report on Wednesday, June 27th. Finally, Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Timken has an average rating of “Buy” and a consensus price target of $55.50.

In related news, insider Shelly Marie Chadwick sold 1,043 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $48.85, for a total value of $50,950.55. Following the sale, the insider now directly owns 3,102 shares of the company’s stock, valued at approximately $151,532.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Philip D. Fracassa sold 3,582 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $48.39, for a total transaction of $173,332.98. Following the completion of the sale, the chief financial officer now directly owns 43,534 shares in the company, valued at $2,106,610.26. The disclosure for this sale can be found here. Insiders own 11.15% of the company’s stock.

A number of hedge funds have recently modified their holdings of TKR. Northern Trust Corp increased its stake in Timken by 0.7% in the 1st quarter. Northern Trust Corp now owns 581,966 shares of the industrial products company’s stock valued at $26,538,000 after buying an additional 4,018 shares during the last quarter. BlackRock Inc. increased its stake in Timken by 4.1% in the 1st quarter. BlackRock Inc. now owns 5,970,137 shares of the industrial products company’s stock valued at $272,236,000 after buying an additional 235,279 shares during the last quarter. California Public Employees Retirement System increased its stake in Timken by 1.2% in the 1st quarter. California Public Employees Retirement System now owns 187,592 shares of the industrial products company’s stock valued at $8,554,000 after buying an additional 2,258 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Timken by 4.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,694,314 shares of the industrial products company’s stock valued at $77,260,000 after buying an additional 78,190 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Timken by 41.8% in the 1st quarter. Hsbc Holdings PLC now owns 20,001 shares of the industrial products company’s stock valued at $912,000 after buying an additional 5,892 shares during the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Shares of NYSE TKR traded down $0.40 during midday trading on Monday, reaching $48.31. 20,832 shares of the stock were exchanged, compared to its average volume of 730,570. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 0.80 and a beta of 1.58. Timken has a 12 month low of $41.85 and a 12 month high of $55.65. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57.

About Timken

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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