FY2024 Earnings Forecast for Timken Issued By Zacks Research

The Timken Company (NYSE:TKR - Free Report) - Equities researchers at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Timken in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $5.62 per share for the year, down from their prior forecast of $6.03. The consensus estimate for Timken's current full-year earnings is $5.61 per share. Zacks Research also issued estimates for Timken's Q1 2025 earnings at $1.73 EPS, Q2 2025 earnings at $1.61 EPS, Q4 2025 earnings at $1.31 EPS, FY2025 earnings at $6.23 EPS, Q1 2026 earnings at $1.77 EPS, Q2 2026 earnings at $1.71 EPS, Q3 2026 earnings at $1.67 EPS and FY2026 earnings at $6.64 EPS.

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

Several other equities research analysts have also commented on the company. Oppenheimer dropped their price target on Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. KeyCorp reduced their target price on Timken from $104.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. Citigroup initiated coverage on Timken in a report on Monday, October 14th. They set a "neutral" rating and a $90.00 target price on the stock. DA Davidson dropped their price target on Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Finally, Evercore ISI upgraded Timken from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Timken currently has a consensus rating of "Hold" and a consensus price target of $90.00.

Timken Trading Up 1.7 %

NYSE:TKR traded up $1.28 on Thursday, hitting $75.22. 458,378 shares of the stock were exchanged, compared to its average volume of 487,116. The stock has a market cap of $5.27 billion, a PE ratio of 15.64, a PEG ratio of 1.09 and a beta of 1.43. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $81.53 and a 200-day moving average of $82.99. Timken has a fifty-two week low of $71.57 and a fifty-two week high of $94.71.

Institutional Investors Weigh In On Timken

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company's stock valued at $569,691,000 after acquiring an additional 347,794 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Timken by 4.8% in the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company's stock valued at $225,750,000 after acquiring an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company's stock valued at $225,880,000 after acquiring an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Timken by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company's stock valued at $168,667,000 after acquiring an additional 97,550 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Timken by 3.5% in the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company's stock valued at $164,689,000 after acquiring an additional 66,208 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is owned by company insiders.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.81%. Timken's dividend payout ratio (DPR) is currently 28.27%.

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.