Equities Analysts Set Expectations for Timken Q3 Earnings

The Timken Company (NYSE:TKR) – Zacks Research cut their Q3 2024 earnings per share estimates for shares of Timken in a research note issued to investors on Thursday, October 17th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings of $1.35 per share for the quarter, down from their previous forecast of $1.38. The consensus estimate for Timken’s current full-year earnings is $6.08 per share. Zacks Research also issued estimates for Timken’s FY2024 earnings at $6.03 EPS, Q3 2025 earnings at $1.58 EPS, Q4 2025 earnings at $1.46 EPS and Q3 2026 earnings at $1.75 EPS.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.01 earnings per share.

A number of other brokerages also recently issued reports on TKR. DA Davidson reissued a “buy” rating and set a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. Raymond James started coverage on Timken in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Evercore ISI cut their price objective 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. Finally, Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $91.70.

Timken Stock Performance

NYSE TKR opened at $87.09 on Friday. Timken has a 12-month low of $65.71 and a 12-month high of $94.71. The firm has a 50-day moving average price of $82.64 and a two-hundred day moving average price of $84.17. The company has a market capitalization of $6.13 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.83 and a beta of 1.43. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Tuesday, August 20th. Timken’s payout ratio is 25.90%.

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,485 shares in the company, valued at $19,671,263.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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

Several institutional investors and hedge funds have recently made changes to their positions in TKR. Nomura Holdings Inc. acquired a new stake in shares of Timken during the 4th quarter worth approximately $1,667,000. CWM LLC raised its holdings in shares of Timken by 45.7% during the first quarter. CWM LLC now owns 1,297 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 407 shares during the period. Global Assets Advisory LLC bought a new position in shares of Timken during the 1st quarter worth about $1,989,000. Hennessy Advisors Inc. grew its stake in shares of Timken by 43.8% in the 1st quarter. Hennessy Advisors Inc. now owns 51,900 shares of the industrial products company’s stock valued at $4,538,000 after buying an additional 15,800 shares during the period. Finally, Baker Ellis Asset Management LLC bought a new stake in Timken in the 1st quarter valued at about $4,239,000. 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.