Zacks Research Analysts Reduce Earnings Estimates for Timken

The Timken Company (NYSE:TKR) – Analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for shares of Timken in a research report issued to clients and investors on Wednesday, December 18th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $5.60 for the year, down from their previous forecast of $5.62. The consensus estimate for Timken’s current full-year earnings is $5.61 per share. Zacks Research also issued estimates for Timken’s Q4 2024 earnings at $0.97 EPS.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis.

A number of other analysts have also issued reports on TKR. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and upped their price target for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. DA Davidson cut their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Finally, Morgan Stanley raised shares of Timken from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $82.00 to $93.00 in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.90.

Timken Price Performance

TKR stock opened at $71.63 on Friday. The company has a market capitalization of $5.02 billion, a P/E ratio of 14.89, a PEG ratio of 1.12 and a beta of 1.38. The company has a fifty day moving average price of $78.66 and a 200-day moving average price of $81.05. Timken has a 52-week low of $70.20 and a 52-week high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is currently 28.27%.

Insider Transactions at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

A number of hedge funds and other institutional investors have recently modified their holdings of TKR. M&T Bank Corp increased its stake in Timken by 0.6% in the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock worth $2,064,000 after purchasing an additional 144 shares during the period. Creative Planning increased its stake in shares of Timken by 1.7% in the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after buying an additional 150 shares during the period. Beese Fulmer Investment Management Inc. raised its holdings in Timken by 1.0% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. raised its holdings in Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after buying an additional 166 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the period. Institutional investors own 89.08% of the company’s stock.

Timken Company Profile

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.