Zacks Research Has Pessimistic View of Timken Q4 Earnings

The Timken Company (NYSE:TKR) – Equities research analysts at Zacks Research lowered their Q4 2024 EPS estimates for Timken in a report issued on Tuesday, November 19th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $0.99 per share for the quarter, down from their previous forecast of $1.28. The consensus estimate for Timken’s current full-year earnings is $5.61 per share.

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

Several other research firms have also issued reports on TKR. KeyCorp lowered their price objective on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and increased their target price for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. DA Davidson cut their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup initiated coverage on Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.00.

Timken Stock Up 1.7 %

Shares of TKR opened at $75.22 on Friday. The business’s 50 day moving average is $81.53 and its 200 day moving average is $82.99. Timken has a 12-month low of $71.57 and a 12-month high of $94.71. The company has a market capitalization of $5.27 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

Institutional Investors Weigh In On Timken

A number of institutional investors have recently bought and sold shares of TKR. Vanguard Group Inc. grew its position in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares in the last quarter. American Century Companies Inc. raised its holdings in Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after purchasing an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after buying an additional 97,550 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after purchasing an additional 66,208 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.70% of the company’s stock.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.81%. Timken’s dividend payout ratio is currently 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.