Research Analysts Offer Predictions for The Timken Company’s Q2 2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Timken in a note issued to investors on Friday, May 3rd. DA Davidson analyst M. Shlisky expects that the industrial products company will earn $1.56 per share for the quarter. DA Davidson currently has a “Buy” rating and a $92.00 target price 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 posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group upped their price objective on Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a research note on Tuesday, February 20th. Morgan Stanley assumed coverage on shares of Timken in a report on Monday, January 8th. They set an “equal weight” rating and a $74.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and issued a $100.00 target price (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. Finally, Loop Capital upped their price target on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.09.

Timken Stock Up 0.2 %

Timken stock opened at $89.71 on Monday. The firm has a 50 day moving average price of $86.12 and a 200-day moving average price of $80.06. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. Timken has a twelve month low of $65.71 and a twelve month high of $95.08. The company has a market capitalization of $6.32 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.21 and a beta of 1.51.

Timken Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. 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 dividend yield of 1.52%. The ex-dividend date of this dividend is Monday, May 13th. Timken’s payout ratio is 25.90%.

Insider Transactions at Timken

In related news, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now directly owns 84,995 shares in the company, valued at $7,590,053.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Christopher A. Coughlin sold 29,006 shares of the 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 transaction, the executive vice president now owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard G. Kyle sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The disclosure for this sale can be found here. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its holdings in Timken by 19.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 7,599 shares of the industrial products company’s stock valued at $559,000 after buying an additional 1,245 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Timken by 8.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,954 shares of the industrial products company’s stock worth $1,981,000 after buying an additional 2,026 shares during the period. Verdence Capital Advisors LLC grew its position in shares of Timken by 8.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,387 shares of the industrial products company’s stock worth $322,000 after buying an additional 348 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Timken by 26.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,643 shares of the industrial products company’s stock valued at $4,089,000 after buying an additional 11,748 shares during the period. Finally, Park Avenue Securities LLC bought a new position in Timken in the 3rd quarter worth $235,000. 89.08% of the stock is currently owned by institutional investors.

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.