Zacks Research Analysts Reduce Earnings Estimates for Timken

The Timken Company (NYSE:TKR) – Research analysts at Zacks Research cut their Q4 2024 EPS estimates for shares of Timken in a note issued to investors on Tuesday, November 19th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $0.99 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.

Timken (NYSE:TKR) last posted 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). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the business earned $1.55 earnings per share. Timken’s quarterly revenue was down 1.4% on a year-over-year basis.

Several other research firms also recently commented on TKR. Citigroup started 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. KeyCorp lowered their price objective on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Oppenheimer cut their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. DA Davidson cut their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Evercore ISI raised 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 research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $90.00.

Timken Stock Up 1.7 %

TKR opened at $75.22 on Friday. The business has a 50 day moving average of $81.53 and a 200-day moving average of $82.99. Timken has a 1-year low of $71.57 and a 1-year high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.09 and a beta of 1.43.

Timken Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Insider Activity

In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the sale, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

Large investors have recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of Timken by 0.6% during the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after purchasing an additional 144 shares in the last quarter. Creative Planning grew its stake in shares of Timken by 1.7% in the 2nd 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. Beese Fulmer Investment Management Inc. boosted its stake in 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 during the period. Blue Trust Inc. boosted its holdings in Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 166 shares during the period. Finally, UMB Bank n.a. boosted its holdings 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. Institutional investors own 89.08% of the company’s stock.

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.