$766.40 Million in Sales Expected for Timken Co (TKR) This Quarter

Equities analysts expect Timken Co (NYSE:TKR) to announce sales of $766.40 million for the current quarter, according to Zacks. Three analysts have made estimates for Timken’s earnings, with the lowest sales estimate coming in at $761.50 million and the highest estimate coming in at $769.70 million. Timken posted sales of $654.80 million in the same quarter last year, which suggests a positive year over year growth rate of 17%. The business is expected to announce its next quarterly earnings report on Thursday, February 8th.

On average, analysts expect that Timken will report full year sales of $766.40 million for the current financial year, with estimates ranging from $2.99 billion to $3.00 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.26 billion per share, with estimates ranging from $3.24 billion to $3.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Timken.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Timken had a return on equity of 13.75% and a net margin of 6.88%. The firm had revenue of $771.40 million during the quarter, compared to analyst estimates of $758.91 million. During the same period in the prior year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year.

A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, September 28th. Jefferies Group restated a “hold” rating and issued a $50.00 target price on shares of Timken in a research note on Thursday, October 26th. Finally, ValuEngine lowered Timken from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Timken presently has an average rating of “Hold” and an average target price of $52.00.

Timken (NYSE TKR) opened at $48.80 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.59. Timken has a 12 month low of $39.40 and a 12 month high of $53.10. The stock has a market capitalization of $3,772.19, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.21%. Timken’s dividend payout ratio (DPR) is presently 43.03%.

In other news, insider Richard G. Kyle sold 9,242 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the sale, the insider now directly owns 89,236 shares in the company, valued at $4,439,491. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.08% of the company’s stock.

Large investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its stake in shares of Timken by 144.9% in the second quarter. Prudential Financial Inc. now owns 566,928 shares of the industrial products company’s stock valued at $26,220,000 after buying an additional 335,460 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Timken in the second quarter valued at about $1,205,000. Clinton Group Inc. bought a new position in Timken in the second quarter valued at about $361,000. Keybank National Association OH boosted its holdings in Timken by 6.2% in the second quarter. Keybank National Association OH now owns 272,211 shares of the industrial products company’s stock valued at $12,590,000 after acquiring an additional 15,920 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in Timken in the third quarter valued at about $382,000. Institutional investors own 79.05% of the company’s stock.

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Timken Company Profile

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.

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Earnings History and Estimates for Timken (NYSE:TKR)

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