The Timken Company (NYSE:TKR) to Post Q2 2024 Earnings of $1.56 Per Share, Zacks Research Forecasts

The Timken Company (NYSE:TKR) – Equities research analysts at Zacks Research raised their Q2 2024 EPS estimates for Timken in a research note issued on Tuesday, June 25th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $1.56 per share for the quarter, up from their previous forecast of $1.55. The consensus estimate for Timken’s current full-year earnings is $6.19 per share. Zacks Research also issued estimates for Timken’s Q4 2024 earnings at $1.29 EPS, FY2024 earnings at $6.15 EPS, Q1 2025 earnings at $1.83 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $6.90 EPS, Q1 2026 earnings at $1.88 EPS and FY2026 earnings at $7.27 EPS.

A number of other research firms have also weighed in on TKR. Stifel Nicolaus raised their target price on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. KeyCorp lifted their price objective on shares of Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Loop Capital upped their target price on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $87.91.

Timken Price Performance

Shares of NYSE:TKR opened at $79.92 on Thursday. The firm has a fifty day moving average price of $86.30 and a 200 day moving average price of $83.80. Timken has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 1.71 and a beta of 1.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87.

Timken (NYSE:TKR) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $2.09 EPS. Timken’s revenue for the quarter was down 5.7% on a year-over-year basis.

Institutional Trading of Timken

Several institutional investors and hedge funds have recently modified their holdings of TKR. Fidelis Capital Partners LLC bought a new position in shares of Timken during the 1st quarter worth $26,000. Livelsberger Financial Advisory bought a new stake in shares of Timken in the 4th quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its holdings in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Timken during the 4th quarter worth $35,000. Finally, Manchester Capital Management LLC raised its stake in shares of Timken by 51.3% during the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 205 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling at Timken

In other news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the sale, the chief executive officer now directly owns 366,799 shares in the company, valued at $32,678,122.91. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard G. Kyle sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the transaction, the chief executive officer now owns 366,799 shares in the company, valued at $32,678,122.91. The disclosure for this sale can be found here. Insiders sold 59,006 shares of company stock worth $5,269,636 over the last 90 days. Company insiders own 8.70% of the company’s stock.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.36 annualized dividend and a yield of 1.70%. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is presently 25.90%.

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.