Zacks: Brokerages Expect Timken Co (NYSE:TKR) Will Announce Earnings of $1.45 Per Share

Brokerages expect Timken Co (NYSE:TKR) to post earnings of $1.45 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Timken’s earnings. The lowest EPS estimate is $1.41 and the highest is $1.49. Timken posted earnings per share of $1.11 during the same quarter last year, which would suggest a positive year over year growth rate of 30.6%. The business is scheduled to announce its next earnings report before the market opens on Wednesday, July 31st.

According to Zacks, analysts expect that Timken will report full year earnings of $5.24 per share for the current fiscal year, with EPS estimates ranging from $5.15 to $5.34. For the next fiscal year, analysts expect that the company will report earnings of $5.56 per share, with EPS estimates ranging from $5.20 to $5.95. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Timken.

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

TKR has been the subject of a number of research analyst reports. Goldman Sachs Group lowered Micro Focus International from a “neutral” rating to a “sell” rating in a report on Tuesday. Bank of America reiterated a “buy” rating and set a $78.00 price target on shares of Citigroup in a report on Monday. Morgan Stanley set a $143.00 price target on FedEx and gave the stock a “hold” rating in a report on Monday, June 10th. Zacks Investment Research upgraded Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Saturday. Finally, ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $53.63.

In other news, EVP Ronald J. Myers sold 13,191 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $50.77, for a total transaction of $669,707.07. Following the sale, the executive vice president now directly owns 18,987 shares in the company, valued at $963,969.99. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shelly Marie Chadwick sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.44, for a total value of $123,456.00. Following the sale, the insider now owns 1,443 shares in the company, valued at $74,227.92. The disclosure for this sale can be found here. Insiders own 11.58% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC grew its holdings in shares of Timken by 35.9% during the second quarter. Gateway Investment Advisers LLC now owns 103,071 shares of the industrial products company’s stock worth $5,292,000 after purchasing an additional 27,209 shares during the last quarter. Clark Capital Management Group Inc. lifted its stake in shares of Timken by 56.7% during the second quarter. Clark Capital Management Group Inc. now owns 91,356 shares of the industrial products company’s stock valued at $4,690,000 after acquiring an additional 33,072 shares during the period. Xact Kapitalforvaltning AB acquired a new position in shares of Timken during the second quarter valued at $226,000. First National Bank of Omaha lifted its stake in shares of Timken by 0.5% during the second quarter. First National Bank of Omaha now owns 95,212 shares of the industrial products company’s stock valued at $4,888,000 after acquiring an additional 459 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in shares of Timken by 0.4% during the second quarter. Retirement Systems of Alabama now owns 89,107 shares of the industrial products company’s stock valued at $4,575,000 after acquiring an additional 339 shares during the period. Institutional investors and hedge funds own 78.16% of the company’s stock.

Shares of TKR stock traded down $0.60 during trading hours on Friday, reaching $48.14. 36,987 shares of the company’s stock were exchanged, compared to its average volume of 558,253. Timken has a fifty-two week low of $33.98 and a fifty-two week high of $52.45. The company has a market capitalization of $3.63 billion, a PE ratio of 11.59, a P/E/G ratio of 0.96 and a beta of 1.77. The business’s fifty day simple moving average is $48.23. The company has a quick ratio of 1.58, a current ratio of 2.81 and a debt-to-equity ratio of 1.07.

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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