Zacks: Analysts Expect Timken Co (NYSE:TKR) Will Announce Earnings of $1.22 Per Share

Equities research analysts expect Timken Co (NYSE:TKR) to announce $1.22 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Timken’s earnings, with the highest EPS estimate coming in at $1.24 and the lowest estimate coming in at $1.19. Timken posted earnings of $1.06 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.1%. The firm is scheduled to report its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Timken will report full-year earnings of $4.87 per share for the current financial year, with EPS estimates ranging from $4.65 to $4.96. For the next financial year, analysts forecast that the company will report earnings of $5.18 per share, with EPS estimates ranging from $4.75 to $5.45. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Timken.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.18). Timken had a return on equity of 21.40% and a net margin of 8.38%. The firm had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $1.11 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year.

TKR has been the topic of a number of research reports. ValuEngine lowered shares of Timken from a “hold” rating to a “sell” rating in a research note on Thursday. Morgan Stanley initiated coverage on shares of Timken in a research note on Monday, June 10th. They issued an “equal weight” rating and a $54.00 price target on the stock. Zacks Investment Research raised shares of Timken from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Goldman Sachs Group raised shares of Timken from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $56.00 in a research note on Tuesday, July 16th. Finally, Bank of America lowered shares of Timken from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.75.

TKR traded up $0.26 during trading on Friday, reaching $43.45. The company had a trading volume of 1,074,840 shares, compared to its average volume of 701,916. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.58 and a current ratio of 2.68. Timken has a 12 month low of $33.98 and a 12 month high of $52.45. The company’s fifty day moving average price is $48.69. The stock has a market capitalization of $3.48 billion, a P/E ratio of 10.39, a P/E/G ratio of 0.99 and a beta of 1.75.

In other Timken news, EVP Ronald J. Myers sold 13,191 shares of Timken stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $50.77, for a total value of $669,707.07. Following the transaction, the executive vice president now owns 18,987 shares of the company’s stock, valued at $963,969.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.58% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its position in shares of Timken by 17.7% in the first quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 365 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Timken in the second quarter worth $115,000. Machina Capital S.A.S. bought a new stake in shares of Timken in the second quarter worth $138,000. Iberiabank Corp bought a new stake in shares of Timken in the second quarter worth $203,000. Finally, World Asset Management Inc bought a new stake in shares of Timken in the first quarter worth $207,000. 78.12% of the stock is currently owned by institutional investors and hedge funds.

About Timken

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.

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