The Timken Company Expected to Earn FY2024 Earnings of $5.96 Per Share (NYSE:TKR)

The Timken Company (NYSE:TKRFree Report) – Investment analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of Timken in a research note issued on Wednesday, February 7th. DA Davidson analyst M. Shlisky now forecasts that the industrial products company will earn $5.96 per share for the year, down from their prior forecast of $6.94. 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 $6.01 per share.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus cut their price target on Timken from $93.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, December 19th. KeyCorp dropped their price objective on Timken from $102.00 to $91.00 and set an “overweight” rating on the stock in a report on Monday, November 6th. StockNews.com raised Timken from a “hold” rating to a “buy” rating in a report on Thursday, February 1st. Citigroup dropped their price objective on Timken from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, October 13th. Finally, The Goldman Sachs Group raised their price target on Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $85.50.

Check Out Our Latest Analysis on TKR

Timken Stock Down 1.1 %

TKR stock opened at $80.66 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.79. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.13 and a beta of 1.55. Timken has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The stock has a fifty day moving average of $79.11 and a 200-day moving average of $76.47.

Timken (NYSE:TKRGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.06 billion. Timken had a return on equity of 19.57% and a net margin of 8.26%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $74.03, for a total transaction of $370,150.00. Following the sale, the chief financial officer now directly owns 88,868 shares in the company, valued at $6,578,898.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TKR. Raymond James Financial Services Advisors Inc. raised its stake in Timken by 39.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,335 shares of the industrial products company’s stock valued at $1,599,000 after buying an additional 7,408 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Timken by 10.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,312 shares of the industrial products company’s stock valued at $444,000 after buying an additional 712 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Timken during the first quarter valued at $1,059,000. MetLife Investment Management LLC raised its stake in shares of Timken by 33.2% in the first quarter. MetLife Investment Management LLC now owns 44,547 shares of the industrial products company’s stock worth $2,704,000 after purchasing an additional 11,093 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Timken by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,300 shares of the industrial products company’s stock worth $1,536,000 after purchasing an additional 2,412 shares during the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

About Timken

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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; thrust and specialty ball bearings; and housed or mounted bearings.

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Earnings History and Estimates for Timken (NYSE:TKR)

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