Equities Analysts Issue Forecasts for The Timken Company’s Q2 2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Stock analysts at DA Davidson issued their Q2 2024 earnings estimates for Timken in a research report issued on Friday, May 3rd. DA Davidson analyst M. Shlisky forecasts that the industrial products company will post earnings per share of $1.56 for the quarter. DA Davidson has a “Buy” rating and a $92.00 price objective on the stock. The consensus estimate for Timken’s current full-year earnings is $6.18 per share. DA Davidson also issued estimates for Timken’s FY2025 earnings at $7.09 EPS.

Timken (NYSE:TKR) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Loop Capital increased their target price on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Oppenheimer reissued an “outperform” rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. Finally, KeyCorp raised their price objective on shares of Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.09.

Timken Stock Performance

Shares of Timken stock opened at $90.05 on Monday. Timken has a 12 month low of $65.71 and a 12 month high of $95.08. The firm has a market capitalization of $6.34 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.21 and a beta of 1.51. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $86.41 and a two-hundred day simple moving average of $80.35.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 1.51%. Timken’s payout ratio is currently 25.14%.

Insider Activity at Timken

In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares in the company, valued at approximately $7,590,053.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares in the company, valued at approximately $7,590,053.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,541 shares in the company, valued at $9,473,360.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,006 shares of company stock worth $5,269,636. 8.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Timken

A number of institutional investors have recently bought and sold shares of TKR. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Timken during the 4th quarter valued at approximately $12,398,000. WCM Investment Management LLC lifted its stake in Timken by 8.7% in the 4th quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company’s stock worth $16,443,000 after purchasing an additional 16,322 shares in the last quarter. Duality Advisers LP increased its holdings in shares of Timken by 226.3% in the fourth quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company’s stock worth $2,227,000 after purchasing an additional 19,274 shares during the last quarter. Foundry Partners LLC lifted its position in shares of Timken by 5.6% in the fourth quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company’s stock worth $6,999,000 after buying an additional 4,598 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Timken by 64.5% during the third quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company’s stock valued at $883,000 after buying an additional 4,712 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.