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

Wall Street analysts expect Timken Co (NYSE:TKR) to report $766.40 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Timken’s earnings. The highest sales estimate is $769.70 million and the lowest is $761.50 million. Timken reported sales of $654.80 million in the same quarter last year, which suggests a positive year over year growth rate of 17%. The firm is scheduled to report its next earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Timken will report full-year sales of $766.40 million for the current fiscal year, with estimates ranging from $2.99 billion to $3.00 billion. For the next financial year, analysts anticipate that the business 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 a mean average based on a survey of sell-side research analysts that that provide coverage for Timken.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $758.91 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis.

A number of equities analysts have weighed in on the company. 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. Zacks Investment Research cut Timken from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Longbow Research upgraded Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Timken presently has a consensus rating of “Hold” and a consensus price target of $52.00.

Timken (NYSE:TKR) traded up $0.10 during mid-day trading on Tuesday, reaching $51.20. The company’s stock had a trading volume of 327,700 shares, compared to its average volume of 679,780. 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 twelve month low of $41.20 and a twelve month high of $53.10. The stock has a market capitalization of $3,970.00, a PE ratio of 20.40, a P/E/G ratio of 1.44 and a beta of 1.50.

In other news, insider Richard G. Kyle sold 9,242 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $49.75, for a total value of $459,789.50. Following the transaction, the insider now directly owns 89,236 shares in the company, valued at $4,439,491. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.08% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its position in shares of Timken by 4.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 390,652 shares of the industrial products company’s stock worth $18,068,000 after purchasing an additional 15,695 shares in the last quarter. Legal & General Group Plc increased its position in shares of Timken by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 88,879 shares of the industrial products company’s stock valued at $4,110,000 after acquiring an additional 10,985 shares during the period. Neuberger Berman Group LLC increased its position in shares of Timken by 1.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 9,734 shares of the industrial products company’s stock valued at $450,000 after acquiring an additional 182 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Timken by 2.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the industrial products company’s stock valued at $520,000 after acquiring an additional 229 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Timken by 59.8% in the 2nd quarter. Principal Financial Group Inc. now owns 519,897 shares of the industrial products company’s stock valued at $24,045,000 after acquiring an additional 194,538 shares during the period. 78.90% of the stock is currently owned by institutional investors.

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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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