Timken (TKR) to Release Earnings on Wednesday

Timken (NYSE:TKR) is anticipated to issue its quarterly earnings data before the market opens on Wednesday, February 5th. Analysts expect the company to announce 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.Parties interested in listening to the company’s conference call can do so using this link.

Timken (NYSE:TKR) last announced its quarterly 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). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 EPS. 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

NYSE TKR opened at $76.65 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $5.37 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39. Timken has a 12-month low of $69.35 and a 12-month high of $94.71. The company has a 50 day moving average price of $74.90 and a two-hundred day moving average price of $79.63.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.77%. Timken’s dividend payout ratio is currently 28.27%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TKR shares. 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 research note on Tuesday, December 17th. Oppenheimer decreased their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Citigroup decreased their target price on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.40.

Insiders Place Their Bets

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.

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.