Analysts expect Timken Co (NYSE:TKR) to report $908.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Timken’s earnings, with estimates ranging from $902.70 million to $913.60 million. Timken posted sales of $750.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 21%. The business is scheduled to report its next quarterly earnings results on Wednesday, July 25th.
On average, analysts expect that Timken will report full year sales of $3.52 billion for the current year, with estimates ranging from $3.51 billion to $3.53 billion. For the next year, analysts anticipate that the company will post sales of $3.73 billion per share, with estimates ranging from $3.64 billion to $3.79 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Timken.
Timken (NYSE:TKR) last announced its earnings results on Tuesday, May 1st. The industrial products company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.17. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $836.56 million. Timken had a return on equity of 16.55% and a net margin of 7.71%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share.
Shares of Timken stock traded down $0.55 during midday trading on Monday, reaching $47.95. 6,002 shares of the company’s stock traded hands, compared to its average volume of 791,201. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $3.76 billion, a PE ratio of 18.19, a P/E/G ratio of 1.37 and a beta of 1.51. Timken has a 12 month low of $41.85 and a 12 month high of $55.65.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 4th. Shareholders of record on Friday, May 18th were issued a $0.28 dividend. This is an increase from Timken’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $1.12 dividend on an annualized basis and a yield of 2.34%. Timken’s dividend payout ratio is 42.59%.
In other Timken news, Director Ward J. Timken, Jr. sold 4,002 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $49.10, for a total value of $196,498.20. Following the completion of the transaction, the director now owns 269,902 shares in the company, valued at $13,252,188.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank C. Sullivan acquired 2,000 shares of the firm’s stock in a transaction on Thursday, May 3rd. The stock was purchased at an average price of $44.85 per share, with a total value of $89,700.00. Following the acquisition, the director now owns 46,932 shares of the company’s stock, valued at approximately $2,104,900.20. The disclosure for this purchase can be found here. 11.15% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TKR. Bronfman E.L. Rothschild L.P. raised its holdings in Timken by 1,368.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 2,052 shares in the last quarter. Assetmark Inc. raised its holdings in Timken by 976.8% in the fourth quarter. Assetmark Inc. now owns 3,015 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 2,735 shares in the last quarter. D.A. Davidson & CO. bought a new position in Timken in the fourth quarter worth $224,000. Matarin Capital Management LLC bought a new position in Timken in the first quarter worth $271,000. Finally, Sciencast Management LP bought a new position in Timken in the fourth quarter worth $275,000. Institutional investors and hedge funds own 77.25% of the company’s stock.
Timken Company Profile
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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