Zacks Research Forecasts Timken’s FY2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Zacks Research cut their FY2024 earnings per share estimates for shares of Timken in a report issued on Wednesday, December 18th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $5.60 for the year, down from their previous forecast of $5.62. The consensus estimate for Timken’s current full-year earnings is $5.61 per share. Zacks Research also issued estimates for Timken’s Q4 2024 earnings at $0.97 EPS.

Several other brokerages have also commented on TKR. Oppenheimer cut 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 target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Citigroup raised shares of Timken from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $90.00 in a research note on Monday, December 9th. Finally, Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $82.00 to $93.00 in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.90.

Timken Trading Up 1.2 %

NYSE TKR opened at $71.63 on Friday. Timken has a 1 year low of $70.20 and a 1 year high of $94.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The company has a market capitalization of $5.02 billion, a PE ratio of 14.89, a P/E/G ratio of 1.12 and a beta of 1.38. The company has a fifty day moving average of $78.91 and a 200 day moving average of $81.14.

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

Hedge Funds Weigh In On Timken

Large investors have recently added to or reduced their stakes in the company. Coastline Trust Co acquired a new stake in shares of Timken during the 3rd quarter valued at $29,000. Livelsberger Financial Advisory acquired a new position in Timken in the third quarter worth approximately $32,000. UMB Bank n.a. lifted its stake in 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 acquiring an additional 168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Timken during the 2nd quarter worth $44,000. Finally, Brooklyn Investment Group bought a new position in shares of Timken during the 3rd quarter valued at $74,000. 89.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.90%. Timken’s dividend payout ratio (DPR) is presently 28.27%.

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.