Brokers Issue Forecasts 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 per share estimates for Timken in a note issued to investors on Friday, May 3rd. DA Davidson analyst M. Shlisky forecasts that the industrial products company will earn $1.56 per share for the quarter. DA Davidson has a “Buy” rating and a $92.00 price target 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 released its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $2.09 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis.

Several other equities research analysts also recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $100.00 price target (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. StockNews.com cut shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. The Goldman Sachs Group upped their price target on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Stifel Nicolaus upped their price objective on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Loop Capital increased their target price on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.09.

Timken Stock Up 0.4 %

Shares of TKR stock opened at $90.05 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. The firm’s 50-day moving average is $86.41 and its 200-day moving average is $80.35. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.21 and a beta of 1.51. Timken has a 52-week low of $65.71 and a 52-week high of $95.08.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be paid a $0.34 dividend. This is a positive change from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.51%. Timken’s dividend payout ratio (DPR) is presently 25.14%.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the sale, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were 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 approximately $32,678,122.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Philip D. Fracassa sold 10,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the sale, the chief financial officer now directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,006 shares of company stock valued at $5,269,636. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

Hedge funds have recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Timken during the first quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in Timken during the 4th quarter worth approximately $30,000. GAMMA Investing LLC bought a new stake in Timken during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC increased its position in Timken by 51.3% in the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 205 shares during the period. Finally, Anchor Investment Management LLC bought a new position in shares of Timken during the fourth quarter valued at $58,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.