Q3 2017 EPS Estimates for Timken Company (The) Boosted by Analyst (TKR)

Timken Company (The) (NYSE:TKR) – KeyCorp increased their Q3 2017 EPS estimates for shares of Timken Company (The) in a report released on Wednesday. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $0.70 for the quarter, up from their previous forecast of $0.64. KeyCorp also issued estimates for Timken Company (The)’s FY2018 earnings at $3.05 EPS.

Timken Company (The) (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The company had revenue of $750.60 million during the quarter, compared to the consensus estimate of $716.50 million. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. Timken Company (The)’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS.

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Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Timken Company (The) from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research raised shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, July 26th. Stifel Nicolaus upped their price target on shares of Timken Company (The) from $46.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $45.00 price target on shares of Timken Company (The) in a report on Tuesday, April 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $47.50.

Shares of Timken Company (NYSE TKR) opened at 45.50 on Monday. Timken Company has a 12-month low of $31.60 and a 12-month high of $51.75. The firm has a 50-day moving average of $46.67 and a 200-day moving average of $45.56. The firm has a market cap of $3.54 billion, a P/E ratio of 22.58 and a beta of 1.38.

In related news, Director Jacqueline F. Woods sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $46.02, for a total transaction of $59,826.00. Following the transaction, the director now owns 19,249 shares of the company’s stock, valued at $885,838.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William R. Burkhart sold 32,580 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $47.94, for a total transaction of $1,561,885.20. Following the transaction, the executive vice president now directly owns 55,640 shares in the company, valued at approximately $2,667,381.60. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Timken Company (The) by 5,786.0% in the first quarter. BlackRock Inc. now owns 5,674,424 shares of the industrial products company’s stock valued at $256,485,000 after buying an additional 5,578,018 shares during the last quarter. Norges Bank purchased a new position in shares of Timken Company (The) during the fourth quarter valued at about $28,499,000. Wellington Management Group LLP increased its position in shares of Timken Company (The) by 38.4% in the first quarter. Wellington Management Group LLP now owns 2,211,031 shares of the industrial products company’s stock valued at $99,939,000 after buying an additional 613,258 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Timken Company (The) by 428.7% in the first quarter. Victory Capital Management Inc. now owns 639,973 shares of the industrial products company’s stock valued at $28,927,000 after buying an additional 518,933 shares during the last quarter. Finally, Boston Partners increased its position in shares of Timken Company (The) by 12.8% in the first quarter. Boston Partners now owns 2,901,889 shares of the industrial products company’s stock valued at $131,165,000 after buying an additional 330,391 shares during the last quarter. 76.38% of the stock is currently owned by institutional investors and hedge funds.

About Timken Company (The)

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Earnings History and Estimates for Timken Company (The) (NYSE:TKR)

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