$1.06 Earnings Per Share Expected for Timken Co (TKR) This Quarter

Wall Street brokerages expect Timken Co (NYSE:TKR) to announce $1.06 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Timken’s earnings. Timken posted earnings of $0.71 per share during the same quarter last year, which indicates a positive year over year growth rate of 49.3%. The business is scheduled to announce its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Timken will report full-year earnings of $4.17 per share for the current fiscal year, with EPS estimates ranging from $4.15 to $4.20. For the next year, analysts anticipate that the firm will post earnings of $4.65 per share, with EPS estimates ranging from $4.35 to $4.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Timken.

Timken (NYSE:TKR) last released its earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The firm had revenue of $906.30 million during the quarter, compared to the consensus estimate of $904.77 million. Timken had a return on equity of 18.39% and a net margin of 7.60%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share.

Several research analysts have issued reports on the company. ValuEngine raised Timken from a “sell” rating to a “hold” rating in a report on Thursday, June 7th. CL King assumed coverage on Timken in a report on Thursday, June 28th. They issued a “neutral” rating on the stock. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a report on Wednesday, August 8th. Finally, KeyCorp upped their price target on Timken from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $55.40.

TKR traded up $0.05 during trading on Friday, reaching $50.95. The stock had a trading volume of 5,208 shares, compared to its average volume of 568,271. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.39 and a quick ratio of 1.30. Timken has a 1-year low of $41.85 and a 1-year high of $55.65.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Shareholders of record on Friday, August 17th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 2.20%. Timken’s dividend payout ratio is currently 42.59%.

In other Timken news, CFO Philip D. Fracassa sold 3,582 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $48.39, for a total transaction of $173,332.98. Following the sale, the chief financial officer now directly owns 43,534 shares of the company’s stock, valued at approximately $2,106,610.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shelly Marie Chadwick sold 1,043 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $48.85, for a total transaction of $50,950.55. Following the sale, the insider now directly owns 3,102 shares in the company, valued at $151,532.70. The disclosure for this sale can be found here. 11.15% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in TKR. Swiss National Bank grew its position in shares of Timken by 2.3% in the first quarter. Swiss National Bank now owns 122,000 shares of the industrial products company’s stock valued at $5,563,000 after purchasing an additional 2,700 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Timken by 6.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 395,319 shares of the industrial products company’s stock worth $18,027,000 after purchasing an additional 22,919 shares in the last quarter. Systematic Financial Management LP acquired a new position in shares of Timken during the first quarter worth about $5,105,000. KBC Group NV lifted its stake in shares of Timken by 104.3% during the first quarter. KBC Group NV now owns 70,236 shares of the industrial products company’s stock worth $3,203,000 after purchasing an additional 35,861 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Timken by 0.7% during the first quarter. Northern Trust Corp now owns 581,966 shares of the industrial products company’s stock worth $26,538,000 after purchasing an additional 4,018 shares in the last quarter. 78.05% of the stock is currently owned by institutional investors.

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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