Zacks: Analysts Expect Timken Co (TKR) Will Post Quarterly Sales of $985.80 Million

Brokerages predict that Timken Co (NYSE:TKR) will announce $985.80 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Timken’s earnings, with the lowest sales estimate coming in at $961.20 million and the highest estimate coming in at $1.00 billion. Timken posted sales of $883.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.6%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, May 1st.

On average, analysts expect that Timken will report full-year sales of $3.92 billion for the current fiscal year, with estimates ranging from $3.90 billion to $3.95 billion. For the next year, analysts anticipate that the firm will post sales of $4.07 billion, with estimates ranging from $3.98 billion to $4.16 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Timken.

Timken (NYSE:TKR) last released its quarterly earnings results on Thursday, February 7th. The industrial products company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). Timken had a return on equity of 20.54% and a net margin of 8.46%. The firm had revenue of $910.10 million for the quarter, compared to analyst estimates of $924.65 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis.

TKR has been the topic of several recent analyst reports. ValuEngine lowered Timken from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd. Zacks Investment Research lowered Timken from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Timken presently has an average rating of “Hold” and a consensus price target of $52.43.

Shares of Timken stock traded up $0.31 during trading hours on Friday, reaching $47.77. 5,627 shares of the company were exchanged, compared to its average volume of 710,634. Timken has a 1 year low of $33.98 and a 1 year high of $52.45. The company has a current ratio of 2.53, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $3.63 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.88 and a beta of 1.75.

Hedge funds have recently modified their holdings of the business. Quantitative Systematic Strategies LLC acquired a new stake in Timken in the first quarter valued at about $1,482,000. First Bank & Trust boosted its holdings in shares of Timken by 8.1% in the 1st quarter. First Bank & Trust now owns 10,282 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 770 shares during the last quarter. W.E. Donoghue & Co. LLC acquired a new position in shares of Timken in the 1st quarter valued at $1,001,000. Scout Investments Inc. acquired a new position in shares of Timken in the 1st quarter valued at $27,070,000. Finally, Huntington National Bank boosted its holdings in shares of Timken by 5.6% in the 1st quarter. Huntington National Bank now owns 5,887 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 312 shares during the last quarter. 77.94% of the stock is currently owned by institutional investors.

About Timken

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, 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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