Brokerages expect Timken Co (NYSE:TKR) to announce $1.02 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Timken’s earnings. Timken reported sales of $906.30 million in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The company is scheduled to announce its next quarterly earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Timken will report full-year sales of $3.91 billion for the current fiscal year, with estimates ranging from $3.89 billion to $3.92 billion. For the next financial year, analysts anticipate that the company will post sales of $4.06 billion, with estimates ranging from $3.97 billion to $4.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Timken.
Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.11. The business had revenue of $979.70 million for the quarter, compared to analysts’ expectations of $983.81 million. Timken had a return on equity of 21.51% and a net margin of 8.55%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share.
A number of analysts have weighed in on the company. ValuEngine cut Timken from a “hold” rating to a “sell” rating in a research note on Saturday, February 23rd. Zacks Investment Research cut Timken from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $53.54.
In other Timken news, EVP Ronald J. Myers sold 13,191 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $50.77, for a total value 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 legal filing with the SEC, which can be accessed through this link. Also, insider Shelly Marie Chadwick sold 2,400 shares of the firm’s stock in a transaction 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 completion of 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. 11.58% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Utah Retirement Systems increased its position in shares of Timken by 1.7% during the first quarter. Utah Retirement Systems now owns 12,941 shares of the industrial products company’s stock worth $564,000 after purchasing an additional 217 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Timken by 22.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,555 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 285 shares in the last quarter. Huntington National Bank increased its position in shares of Timken by 5.6% during the first quarter. Huntington National Bank now owns 5,887 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 312 shares in the last quarter. Bank of Montreal Can increased its position in shares of Timken by 17.7% during the first quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 365 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Timken by 0.8% during the fourth quarter. Arizona State Retirement System now owns 49,649 shares of the industrial products company’s stock worth $1,853,000 after purchasing an additional 374 shares in the last quarter. Institutional investors own 77.95% of the company’s stock.
Timken stock traded up $1.22 during midday trading on Wednesday, reaching $45.23. The company’s stock had a trading volume of 686,654 shares, compared to its average volume of 727,661. Timken has a fifty-two week low of $33.98 and a fifty-two week high of $52.45. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.81 and a quick ratio of 1.58. The stock has a market cap of $3.35 billion, a PE ratio of 10.82, a P/E/G ratio of 0.89 and a beta of 1.72.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Tuesday, May 21st. Timken’s dividend payout ratio is presently 26.79%.
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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