Brokers Issue Forecasts for Timken's Q4 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR - Free Report) - Equities researchers at Zacks Research cut their Q4 2024 EPS estimates for shares of Timken in a research note issued to investors on Tuesday, November 19th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $0.99 per share for the quarter, down from their prior forecast of $1.28. The consensus estimate for Timken's current full-year earnings is $5.61 per share.

Other equities research analysts also recently issued reports about the stock. KeyCorp reissued a "sector weight" rating on shares of Timken in a report on Friday. Oppenheimer dropped their price target on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Citigroup initiated coverage on Timken in a report on Monday, October 14th. They set a "neutral" rating and a $90.00 target price for the company. DA Davidson reduced their price objective on shares of Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Timken from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Timken presently has a consensus rating of "Hold" and a consensus price target of $90.00.

Timken Price Performance

Shares of TKR stock traded up $0.11 during midday trading on Friday, reaching $75.33. 429,795 shares of the company were exchanged, compared to its average volume of 486,863. The company has a market cap of $5.28 billion, a P/E ratio of 15.64, a PEG ratio of 1.09 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. Timken has a 12 month low of $71.57 and a 12 month high of $94.71. The company's 50 day moving average price is $81.53 and its two-hundred day moving average price is $82.99.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Tuesday, November 19th. Timken's dividend payout ratio is 28.27%.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 of the company's stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Timken

Large investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in Timken by 34.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock worth $143,376,000 after buying an additional 434,800 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company's stock valued at $569,691,000 after acquiring an additional 347,794 shares during the period. Interval Partners LP acquired a new position in shares of Timken in the 1st quarter valued at $22,907,000. Verition Fund Management LLC raised its stake in Timken by 3,179.1% during the 3rd quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company's stock worth $16,340,000 after buying an additional 187,946 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company's stock worth $225,750,000 after acquiring an additional 128,791 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

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.