Timken (TKR) Projected to Post Earnings on Wednesday

Timken (NYSE:TKR - Get Free Report) is projected to post its quarterly earnings results before the market opens on Wednesday, February 5th. Analysts expect Timken to post earnings of $1.08 per share and revenue of $1.07 billion for the quarter. Timken has set its FY 2024 guidance at 5.550-5.650 EPS and its FY24 guidance at $5.55-5.65 EPS.Persons that are interested in participating in the company's earnings conference call can do so using this link.

Timken (NYSE:TKR - Get Free Report) last issued its 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 return on equity of 14.82% and a net margin of 7.41%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts expect Timken to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Timken Price Performance

Shares of TKR traded down $0.05 during midday trading on Wednesday, hitting $76.58. 165,957 shares of the company traded hands, compared to its average volume of 545,678. The stock has a 50-day moving average of $74.90 and a 200-day moving average of $79.63. 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 one year low of $69.35 and a one year high of $94.71. The firm has a market cap of $5.37 billion, a P/E ratio of 15.94, a PEG ratio of 0.99 and a beta of 1.39.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, November 19th. Timken's dividend payout ratio is presently 28.27%.

Analyst Ratings Changes

Several research firms have recently weighed in on TKR. Evercore ISI raised shares of Timken from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Oppenheimer reduced their price objective on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. KeyCorp reaffirmed a "sector weight" rating on shares of Timken in a research note on Friday, November 22nd. Morgan Stanley upgraded shares of Timken from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $82.00 to $93.00 in a report on Tuesday, December 17th. Finally, Jefferies Financial Group raised shares of 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. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.40.

Insider Buying and Selling at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the company'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 completion of the transaction, the director now directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is currently owned by corporate insiders.

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.