Zacks Research Analysts Lower Earnings Estimates for Timken

The Timken Company (NYSE:TKR - Free Report) - Zacks Research lowered their FY2024 earnings estimates for Timken in a report issued on Wednesday, December 18th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $5.60 per share for the year, down from their previous estimate 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the business earned $1.55 EPS. The business's quarterly revenue was down 1.4% on a year-over-year basis.

Other research analysts have also recently issued research reports about the stock. KeyCorp reiterated a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. DA Davidson decreased 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 Timken from a "hold" rating to a "buy" rating and increased their target price for the company from $80.00 to $95.00 in a report on Friday, December 6th. Evercore ISI raised Timken from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Finally, Morgan Stanley upgraded Timken from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $82.00 to $93.00 in a report on Tuesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.90.

Timken Stock Up 1.2 %

Shares of Timken stock traded up $0.87 on Friday, reaching $71.63. 1,409,564 shares of the company were exchanged, compared to its average volume of 490,756. The stock's 50 day moving average price is $78.91 and its 200-day moving average price is $81.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. Timken has a 1-year low of $70.20 and a 1-year high of $94.71. The company has a market cap of $5.02 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38.

Institutional Trading of Timken

Hedge funds and other institutional investors have recently made changes to their positions in the company. Coastline Trust Co purchased a new stake in Timken in the 3rd quarter valued at approximately $29,000. Livelsberger Financial Advisory acquired a new stake in Timken in the third quarter valued at $32,000. UMB Bank n.a. grew its stake in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock worth $36,000 after purchasing an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Timken in the second quarter valued at about $44,000. Finally, Brooklyn Investment Group purchased a new position in Timken in the third quarter valued at about $74,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Insider Activity

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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company's stock.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.90%. Timken's dividend payout ratio is presently 28.27%.

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.