Brokerages Expect Timken Co (NYSE:TKR) to Announce $1.46 EPS

Brokerages forecast that Timken Co (NYSE:TKR) will announce $1.46 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Timken’s earnings. The highest EPS estimate is $1.49 and the lowest is $1.45. Timken reported earnings per share of $1.11 in the same quarter last year, which would suggest a positive year over year growth rate of 31.5%. The company is scheduled to announce its next earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Timken will report full year earnings of $5.29 per share for the current year, with EPS estimates ranging from $5.25 to $5.34. For the next year, analysts forecast that the company will report earnings of $5.61 per share, with EPS estimates ranging from $5.20 to $5.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Timken.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.11. Timken had a net margin of 8.55% and a return on equity of 21.51%. The company had revenue of $979.70 million during the quarter, compared to the consensus estimate of $983.81 million. During the same period in the previous year, the firm posted $1.01 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis.

Several research firms recently issued reports on TKR. ValuEngine downgraded shares of Timken from a “hold” rating to a “sell” rating in a research report on Friday, May 17th. Zacks Investment Research downgraded shares of Timken from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Finally, Morgan Stanley began coverage on shares of Timken in a research report on Monday, June 10th. They issued an “equal weight” rating and a $54.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $53.63.

Shares of NYSE TKR traded up $0.41 during trading on Wednesday, reaching $50.67. The company had a trading volume of 346,138 shares, compared to its average volume of 709,834. Timken has a 52 week low of $33.98 and a 52 week high of $52.45. The stock has a market cap of $3.82 billion, a PE ratio of 12.12, a PEG ratio of 1.00 and a beta of 1.73. The company has a current ratio of 2.81, a quick ratio of 1.58 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $47.30.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, May 21st. Timken’s dividend payout ratio is 26.79%.

In other Timken news, EVP Ronald J. Myers sold 13,191 shares of Timken stock in a transaction on Monday, May 6th. The shares were sold at an average price of $50.77, for a total transaction of $669,707.07. Following the transaction, the executive vice president now directly owns 18,987 shares of the company’s stock, valued at approximately $963,969.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shelly Marie Chadwick sold 2,400 shares of Timken stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.44, for a total transaction of $123,456.00. Following the transaction, the insider now directly owns 1,443 shares in the company, valued at $74,227.92. The disclosure for this sale can be found here. 11.58% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its stake in shares of Timken by 3,708.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,029,435 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,002,405 shares during the period. Norges Bank bought a new stake in shares of Timken during the fourth quarter valued at about $33,099,000. Scout Investments Inc. bought a new stake in shares of Timken during the first quarter valued at about $27,070,000. Carillon Tower Advisers Inc. bought a new stake in shares of Timken during the first quarter valued at about $18,352,000. Finally, American Century Companies Inc. purchased a new position in shares of Timken during the fourth quarter worth about $14,680,000. 77.93% of the stock is currently owned by hedge funds and other institutional investors.

Timken Company Profile

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, 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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Earnings History and Estimates for Timken (NYSE:TKR)

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