DA Davidson Weighs in on Timken’s FY2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Equities research analysts at DA Davidson reduced their FY2024 earnings per share (EPS) estimates for Timken in a report issued on Wednesday, November 6th. DA Davidson analyst M. Shlisky now forecasts that the industrial products company will post earnings of $5.57 per share for the year, down from their prior forecast of $6.07. DA Davidson currently has a “Buy” rating and a $99.00 target price on the stock. The consensus estimate for Timken’s current full-year earnings is $6.05 per share. DA Davidson also issued estimates for Timken’s Q4 2024 earnings at $0.93 EPS.

A number of other analysts have also issued reports on TKR. Citigroup started coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Oppenheimer lowered their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday. Evercore ISI lowered their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, KeyCorp lowered their price target on Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Timken presently has an average rating of “Hold” and a consensus price target of $89.60.

Timken Stock Down 2.8 %

Timken stock opened at $76.99 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The business has a 50 day simple moving average of $82.56 and a 200-day simple moving average of $83.82. The stock has a market capitalization of $5.40 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.90 and a beta of 1.43. Timken has a 12 month low of $70.15 and a 12 month high of $94.71.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 earnings per share.

Hedge Funds Weigh In On Timken

Several large investors have recently modified their holdings of the business. 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 valued at $731,000 after buying an additional 150 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Timken by 3.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 155 shares during the period. Beese Fulmer Investment Management Inc. increased its holdings in shares of Timken by 1.0% in 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 acquiring an additional 155 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 166 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings 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 acquiring 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.