What is DA Davidson’s Estimate for Timken FY2024 Earnings?

The Timken Company (NYSE:TKR) – Investment analysts at DA Davidson dropped their FY2024 earnings per share estimates for Timken in a report released on Tuesday, October 29th. DA Davidson analyst M. Shlisky now expects that the industrial products company will post earnings of $6.07 per share for the year, down from their previous forecast of $6.10. DA Davidson has a “Buy” rating and a $103.00 price target on the stock. The consensus estimate for Timken’s current full-year earnings is $6.05 per share.

TKR has been the topic of several other research reports. Evercore ISI decreased their price target 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 initiated coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $91.70.

Timken Trading Down 1.5 %

Timken stock opened at $83.00 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.92 and a beta of 1.43. Timken has a 1 year low of $65.71 and a 1 year high of $94.71. The firm’s 50 day moving average price is $83.04 and its two-hundred day moving average price is $84.02.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.60 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 earnings per share.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is currently 27.87%.

Insider Buying and Selling at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Monday, August 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the completion of the sale, the chief executive officer now owns 274,485 shares of the company’s stock, valued at $22,167,408.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

Institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new stake in shares of Timken in the 1st quarter valued at $26,000. Versant Capital Management Inc acquired a new stake in shares of Timken in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 343 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Timken in the 3rd quarter valued at $32,000. Finally, UMB Bank n.a. lifted its stake in shares of Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds 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.