Q3 Earnings Estimate for Timken Issued By Zacks Research

The Timken Company (NYSE:TKR) – Investment analysts at Zacks Research lowered their Q3 2024 EPS estimates for Timken in a research note issued on Thursday, October 17th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $1.35 for the quarter, down from their prior forecast of $1.38. The consensus estimate for Timken’s current full-year earnings is $6.08 per share. Zacks Research also issued estimates for Timken’s FY2024 earnings at $6.03 EPS, Q3 2025 earnings at $1.58 EPS, Q4 2025 earnings at $1.46 EPS and Q3 2026 earnings at $1.75 EPS.

Other research analysts also recently issued research reports about the stock. Evercore ISI dropped their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup started coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. DA Davidson restated a “buy” rating and issued a $103.00 target price on shares of Timken in a research note on Tuesday, September 17th. Finally, Raymond James initiated coverage on Timken in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.70.

Timken Price Performance

Shares of TKR opened at $87.09 on Friday. The firm has a market cap of $6.13 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43. Timken has a 52-week low of $65.71 and a 52-week high of $94.71. The business’s 50 day moving average price is $82.64 and its two-hundred day moving average price is $84.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company posted $2.01 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning raised its holdings in shares of Timken by 1.7% in the 2nd quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 150 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Timken by 3.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after buying an additional 155 shares during the period. Blue Trust Inc. grew its stake in shares of Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 166 shares during the period. UMB Bank n.a. increased its holdings in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in Timken by 1.6% in the 3rd quarter. NBC Securities Inc. now owns 11,531 shares of the industrial products company’s stock valued at $971,000 after acquiring an additional 177 shares during the period. 89.08% of the stock is owned by institutional investors.

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.70% of the company’s stock.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.56%. Timken’s dividend payout ratio is currently 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.