Timken (TKR) Scheduled to Post Earnings on Tuesday

Timken (NYSE:TKR - Get Free Report) is scheduled to announce its earnings results before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $1.37 per share for the quarter. Timken has set its FY24 guidance at $6.00 to $6.20 EPS and its FY 2024 guidance at 6.000-6.200 EPS.Persons interested in registering for the company's earnings conference call can do so using this link.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company's revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 EPS. On average, analysts expect Timken to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Timken Stock Performance

Shares of TKR traded down $1.49 on Tuesday, reaching $84.42. 432,007 shares of the company's stock traded hands, compared to its average volume of 466,458. The stock's 50 day simple moving average is $83.01 and its two-hundred day simple moving average is $84.02. The stock has a market cap of $5.92 billion, a PE ratio of 17.30, a PEG 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 current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72.

Timken Announces Dividend

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

Insider Buying and Selling at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the business's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the sale, the chief executive officer now directly owns 274,485 shares in the company, valued at approximately $22,167,408.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.70% of the company's stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of several research reports. Evercore ISI reduced 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 report on Monday, August 19th. DA Davidson reissued a "buy" rating and set a $103.00 target price on shares of Timken in a research report on Tuesday, September 17th. Finally, Citigroup began coverage on shares of Timken in a report on Monday, October 14th. They issued a "neutral" rating and a $90.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $91.70.

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.