DA Davidson Comments on Timken's FY2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR - Free Report) - Equities researchers at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for shares of Timken in a report released on Tuesday, October 29th. DA Davidson analyst M. Shlisky now expects that the industrial products company will earn $6.07 per share for the year, down from their prior estimate 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.

Several other equities analysts have also recently weighed in on TKR. Evercore ISI decreased their price target on shares of Timken from $94.00 to $87.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. Citigroup assumed coverage on shares of Timken in a research note on Monday, October 14th. They set a "neutral" rating and a $90.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Timken has a consensus rating of "Hold" and a consensus target price of $91.70.

Timken Stock Down 0.2 %

Shares of TKR traded down $0.13 during mid-day trading on Wednesday, hitting $84.29. 545,584 shares of the company's stock were exchanged, compared to its average volume of 466,837. The company has a market cap of $5.91 billion, a PE ratio of 17.30, a P/E/G ratio of 1.92 and a beta of 1.43. Timken has a 52 week low of $65.71 and a 52 week high of $94.71. The company has a 50-day simple moving average of $83.01 and a 200 day simple moving average of $84.02. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64.

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

Institutional Investors Weigh In On Timken

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning lifted its holdings in shares of Timken by 1.7% during 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 in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Timken by 3.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company's stock worth $407,000 after buying an additional 155 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its holdings in shares of Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company's stock worth $1,282,000 after buying an additional 155 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Timken by 20.0% during the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company's stock worth $80,000 after buying an additional 166 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock worth $36,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Insider Buying and Selling at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the sale, the chief executive officer now owns 244,485 shares of the company's stock, valued at $19,671,263.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.70% of the company's stock.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.61%. The ex-dividend date was Tuesday, August 20th. Timken's dividend payout ratio is 27.87%.

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.