What is DA Davidson’s Estimate for Timken FY2024 Earnings?

The Timken Company (NYSE:TKR) – Investment analysts at DA Davidson decreased their FY2024 earnings per share estimates for shares of Timken in a research note issued to investors on Tuesday, October 29th. DA Davidson analyst M. Shlisky now anticipates that the industrial products company will earn $6.07 per share for the year, down from their previous estimate of $6.10. DA Davidson has a “Buy” rating and a $103.00 price target on the stock. The consensus estimate for Timken’s current full-year earnings is $6.05 per share.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm earned $2.01 EPS. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year.

Several other analysts also recently issued reports on TKR. Evercore ISI lowered their price target on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Citigroup began coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.70.

Timken Stock Down 1.5 %

Shares of NYSE TKR opened at $83.00 on Wednesday. Timken has a 12-month low of $65.71 and a 12-month high of $94.71. The company has a market cap of $5.82 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.92 and a beta of 1.43. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $83.04 and a 200 day moving average price of $84.02.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a $0.34 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a yield of 1.64%. Timken’s dividend payout ratio (DPR) is 27.87%.

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $80.46, for a total value of $2,413,800.00. Following the transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at $19,671,263.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Timken

Hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new stake in shares of Timken during the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after buying an additional 343 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Timken during the second quarter valued at approximately $30,000. Livelsberger Financial Advisory bought a new stake in shares of Timken during the third quarter valued at approximately $32,000. Finally, UMB Bank n.a. raised its holdings in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

About Timken

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.