Timken (TKR) Expected to Announce Earnings on Wednesday

Timken (NYSE:TKR) is anticipated to announce its earnings results before the market opens on Wednesday, February 5th. Analysts expect the company to announce earnings of $1.08 per share and revenue of $1.07 billion for the quarter. Timken has set its FY 2024 guidance at 5.550-5.650 EPS and its FY24 guidance at $5.55-5.65 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Timken (NYSE:TKR) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company earned $1.55 earnings per share. Timken’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts expect Timken to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Timken Stock Up 0.2 %

Shares of NYSE TKR opened at $80.30 on Monday. The stock has a market cap of $5.63 billion, a PE ratio of 16.69, a P/E/G ratio of 1.01 and a beta of 1.39. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. Timken has a 12-month low of $69.35 and a 12-month high of $94.71. The company has a 50-day moving average of $75.16 and a 200 day moving average of $79.47.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is currently 28.27%.

Insider Activity at Timken

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 transaction of $2,297,700.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TKR. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. DA Davidson cut their target price on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Oppenheimer decreased their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.40.

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.