FY2024 Earnings Forecast for Timken Issued By Zacks Research

The Timken Company (NYSE:TKR) – Equities research analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Timken in a research note issued on Wednesday, December 18th. Zacks Research analyst M. Das now expects that the industrial products company will earn $5.60 per share for the year, down from their previous estimate of $5.62. The consensus estimate for Timken’s current full-year earnings is $5.61 per share. Zacks Research also issued estimates for Timken’s Q4 2024 earnings at $0.97 EPS.

Timken (NYSE:TKR) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 EPS.

Other analysts also recently issued reports about the company. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $90.00 in a report on Monday, December 9th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Oppenheimer reduced their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, DA Davidson dropped their target price on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.90.

Timken Price Performance

Shares of TKR stock opened at $70.76 on Friday. Timken has a twelve month low of $70.37 and a twelve month high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $78.91 and a two-hundred day simple moving average of $81.14. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.12 and a beta of 1.38.

Institutional Investors Weigh In On Timken

A number of large investors have recently made changes to their positions in the stock. Coastline Trust Co purchased a new position in Timken in the 3rd quarter worth $29,000. Livelsberger Financial Advisory purchased a new position in shares of Timken in the third quarter worth about $32,000. UMB Bank n.a. raised its stake in shares of Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Timken during the second quarter worth about $44,000. Finally, Brooklyn Investment Group purchased a new stake in Timken in the third quarter valued at approximately $74,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.70% of the company’s stock.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s payout ratio is presently 28.27%.

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.