Brokerages predict that Timken Co (NYSE:TKR) will report $925.00 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Timken’s earnings, with the highest sales estimate coming in at $929.80 million and the lowest estimate coming in at $920.20 million. Timken posted sales of $778.00 million during the same quarter last year, which suggests a positive year over year growth rate of 18.9%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Timken will report full year sales of $3.59 billion for the current fiscal year, with estimates ranging from $3.59 billion to $3.60 billion. For the next year, analysts anticipate that the company will report sales of $3.95 billion, with estimates ranging from $3.89 billion to $4.00 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Timken.
Timken (NYSE:TKR) last announced its earnings results on Monday, October 29th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). Timken had a net margin of 7.89% and a return on equity of 19.58%. The firm had revenue of $881.30 million for the quarter, compared to analyst estimates of $912.58 million. During the same period last year, the firm earned $0.71 earnings per share. Timken’s revenue for the quarter was up 14.2% compared to the same quarter last year.
In other Timken news, Director Frank C. Sullivan acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average cost of $41.05 per share, for a total transaction of $205,250.00. Following the completion of the acquisition, the director now owns 51,932 shares of the company’s stock, valued at approximately $2,131,808.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.15% of the company’s stock.
Large investors have recently modified their holdings of the stock. Dana Investment Advisors Inc. bought a new stake in Timken during the second quarter valued at about $2,038,000. BNP Paribas Arbitrage SA boosted its holdings in Timken by 46.7% during the second quarter. BNP Paribas Arbitrage SA now owns 7,588 shares of the industrial products company’s stock valued at $330,000 after acquiring an additional 2,417 shares during the period. GAM Holding AG boosted its holdings in Timken by 41.6% during the second quarter. GAM Holding AG now owns 14,380 shares of the industrial products company’s stock valued at $626,000 after acquiring an additional 4,223 shares during the period. Boston Partners boosted its holdings in Timken by 2.6% during the second quarter. Boston Partners now owns 1,944,278 shares of the industrial products company’s stock valued at $84,673,000 after acquiring an additional 48,733 shares during the period. Finally, Chicago Equity Partners LLC bought a new stake in Timken during the second quarter valued at about $274,000. Hedge funds and other institutional investors own 78.55% of the company’s stock.
Shares of Timken stock traded up $0.95 on Monday, hitting $40.15. 578,456 shares of the company traded hands, compared to its average volume of 671,853. The company has a quick ratio of 1.44, a current ratio of 2.72 and a debt-to-equity ratio of 1.03. Timken has a 12-month low of $34.90 and a 12-month high of $55.65. The stock has a market cap of $3.01 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.62 and a beta of 1.86.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 20th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, November 19th. Timken’s dividend payout ratio is presently 42.59%.
Timken Company Profile
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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