The Timken Company (NYSE:TKR) Expected to Post Quarterly Sales of $973.93 Million

Brokerages predict that The Timken Company (NYSE:TKR) will report sales of $973.93 million for the current quarter, Zacks reports. Three analysts have made estimates for Timken’s earnings. The highest sales estimate is $988.00 million and the lowest is $954.60 million. Timken reported sales of $891.70 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The company is scheduled to announce its next earnings results before the market opens on Thursday, February 3rd.

On average, analysts expect that Timken will report full-year sales of $4.13 billion for the current fiscal year. For the next financial year, analysts forecast that the firm will report sales of $4.46 billion, with estimates ranging from $4.36 billion to $4.54 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Timken.

Timken (NYSE:TKR) last released its earnings results on Sunday, October 31st. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. Timken had a net margin of 8.94% and a return on equity of 16.00%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. Timken’s revenue for the quarter was up 16.0% on a year-over-year basis.

TKR has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of Timken from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Sunday, November 14th. Zacks Investment Research upgraded shares of Timken from a “sell” rating to a “hold” rating and set a $73.00 target price on the stock in a research note on Tuesday, January 4th. The Goldman Sachs Group cut shares of Timken from a “buy” rating to a “neutral” rating and dropped their price target for the company from $84.00 to $73.00 in a research note on Sunday, December 12th. Loop Capital upped their price target on shares of Timken from $72.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, November 2nd. Finally, Morgan Stanley decreased their target price on shares of Timken from $84.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 13th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.33.

NYSE:TKR opened at $73.89 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.60 and a quick ratio of 1.44. The firm has a 50-day moving average of $70.52 and a 200-day moving average of $72.39. The company has a market cap of $5.61 billion, a PE ratio of 15.86 and a beta of 1.70. Timken has a one year low of $62.96 and a one year high of $92.39.

The business also recently declared a quarterly dividend, which was paid on Friday, December 3rd. Stockholders of record on Monday, November 22nd were paid a $0.30 dividend. The ex-dividend date was Friday, November 19th. This is a positive change from Timken’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.62%. Timken’s payout ratio is currently 25.75%.

In other Timken news, CFO Philip D. Fracassa sold 9,220 shares of Timken stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $72.71, for a total transaction of $670,386.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.05% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. MUFG Americas Holdings Corp lifted its position in shares of Timken by 533.3% during the third quarter. MUFG Americas Holdings Corp now owns 399 shares of the industrial products company’s stock valued at $26,000 after buying an additional 336 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Timken in the 2nd quarter worth approximately $32,000. FORA Capital LLC acquired a new position in Timken in the 2nd quarter worth approximately $47,000. Moors & Cabot Inc. acquired a new position in Timken in the 3rd quarter worth approximately $86,000. Finally, Advisory Services Network LLC acquired a new position in Timken in the 2nd quarter worth approximately $108,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Timken Company Profile

The Timken Co engages in the engineering, manufacturing and marketing of bearings and power transmission products. It offers gearboxes, belts, chain, lubrication systems, couplings, industrial clutches and brakes. It operates through the Mobile Industries and Process Industries segments. The Mobile Industries segment serves OEM customers that manufacture off-highway equipment for the agricultural, mining and construction markets; on-highway vehicles including passenger cars, light trucks, and medium- and heavy-duty trucks; rail cars and locomotives; outdoor power equipment; and rotorcraft and fixed-wing aircraft.

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