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

The Timken Company (NYSE:TKR - Free Report) - Equities researchers at DA Davidson reduced their FY2024 EPS estimates for shares of Timken in a research report issued on Wednesday, November 6th. DA Davidson analyst M. Shlisky now anticipates that the industrial products company will post earnings per share of $5.57 for the year, down from their prior forecast of $6.07. DA Davidson currently has a "Buy" rating and a $99.00 price objective on the stock. The consensus estimate for Timken's current full-year earnings is $6.05 per share. DA Davidson also issued estimates for Timken's Q4 2024 earnings at $0.93 EPS.

Other research analysts have also issued research reports about the company. Citigroup assumed coverage on Timken in a research report on Monday, October 14th. They set a "neutral" rating and a $90.00 target price for the company. Evercore ISI dropped their price objective on Timken from $94.00 to $87.00 and set an "in-line" rating for the company in a report on Monday, August 19th. Oppenheimer reduced their target price on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, KeyCorp decreased their target price on Timken from $104.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Timken presently has an average rating of "Hold" and an average price target of $89.60.

Timken Trading Down 2.8 %

Shares of Timken stock traded down $2.22 during trading on Thursday, hitting $76.99. The stock had a trading volume of 749,863 shares, compared to its average volume of 484,207. Timken has a 12 month low of $70.15 and a 12 month high of $94.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The firm's fifty day simple moving average is $82.70 and its 200-day simple moving average is $83.87. The stock has a market cap of $5.40 billion, a PE ratio of 16.46, a PEG ratio of 1.90 and a beta of 1.43.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS.

Institutional Investors Weigh In On Timken

Several hedge funds have recently modified their holdings of the company. Creative Planning boosted its position in 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 purchasing an additional 150 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Timken by 3.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company's stock valued at $407,000 after acquiring an additional 155 shares during the period. Beese Fulmer Investment Management Inc. increased its holdings in Timken by 1.0% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company's stock worth $1,282,000 after acquiring an additional 155 shares in the last quarter. Blue Trust Inc. raised its position in 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 acquiring an additional 166 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 168 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.