Timken Co (TKR) Expected to Post Earnings of $1.24 Per Share

Equities analysts expect Timken Co (NYSE:TKR) to report $1.24 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Timken’s earnings, with the highest EPS estimate coming in at $1.34 and the lowest estimate coming in at $1.18. Timken posted earnings per share of $1.01 during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.8%. The business is expected to announce its next earnings results before the market opens on Wednesday, May 1st.

According to Zacks, analysts expect that Timken will report full year earnings of $4.81 per share for the current fiscal year, with EPS estimates ranging from $4.75 to $4.90. For the next financial year, analysts forecast that the business will post earnings of $5.19 per share, with EPS estimates ranging from $4.85 to $5.60. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Timken.

Timken (NYSE:TKR) last announced its quarterly earnings data on Thursday, February 7th. The industrial products company reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.01). Timken had a net margin of 8.46% and a return on equity of 20.54%. The business had revenue of $910.10 million during the quarter, compared to analyst estimates of $924.65 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis.

Several brokerages recently weighed in on TKR. ValuEngine lowered shares of Timken from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd. Zacks Investment Research lowered shares of Timken from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Timken currently has an average rating of “Hold” and a consensus price target of $52.43.

NYSE TKR traded up $0.63 during trading hours on Thursday, hitting $46.79. The company’s stock had a trading volume of 640,200 shares, compared to its average volume of 742,004. Timken has a twelve month low of $33.98 and a twelve month high of $52.45. The firm has a market capitalization of $3.53 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.85 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.53 and a quick ratio of 1.31.

A number of hedge funds and other institutional investors have recently made changes to their positions in TKR. Huntington National Bank raised its holdings in Timken by 5.6% in the first quarter. Huntington National Bank now owns 5,887 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 312 shares during the period. American Century Companies Inc. acquired a new stake in Timken in the fourth quarter worth $14,680,000. Geode Capital Management LLC raised its holdings in Timken by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 702,577 shares of the industrial products company’s stock worth $26,220,000 after purchasing an additional 71,270 shares during the period. Norges Bank acquired a new stake in Timken in the fourth quarter worth $33,099,000. Finally, Nordea Investment Management AB raised its holdings in Timken by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 99,500 shares of the industrial products company’s stock worth $3,714,000 after purchasing an additional 9,900 shares during the period. Institutional investors and hedge funds own 77.94% of the company’s stock.

Timken Company Profile

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, 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.

Recommended Story: Back-End Load

Get a free copy of the Zacks research report on Timken (TKR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.