Q3 2024 EPS Estimates for The Timken Company Lowered by Analyst (NYSE:TKR)

The Timken Company (NYSE:TKR - Free Report) - Zacks Research reduced their Q3 2024 earnings per share estimates for Timken in a note issued to investors on Tuesday, May 14th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $1.52 for the quarter, down from their prior estimate of $1.53. The consensus estimate for Timken's current full-year earnings is $6.21 per share. Zacks Research also issued estimates for Timken's Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $6.03 EPS, Q1 2025 earnings at $1.77 EPS and FY2025 earnings at $6.76 EPS.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus increased their target price on shares of Timken from $92.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, May 1st. Evercore ISI cut shares of Timken from an "outperform" rating to an "in-line" rating and set a $84.00 price target on the stock. in a report on Tuesday, February 20th. DA Davidson began coverage on shares of Timken in a research report on Tuesday, January 23rd. They set a "buy" rating and a $92.00 price target on the stock. KeyCorp raised their price objective on shares of Timken from $91.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. Finally, StockNews.com lowered Timken from a "buy" rating to a "hold" rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $87.09.

Timken Trading Up 0.8 %

NYSE:TKR traded up $0.71 during midday trading on Wednesday, reaching $93.10. 351,623 shares of the stock traded hands, compared to its average volume of 499,250. The stock has a market capitalization of $6.56 billion, a P/E ratio of 17.73, a PEG ratio of 1.23 and a beta of 1.51. Timken has a 12 month low of $65.71 and a 12 month high of $95.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. The company has a fifty day moving average of $87.29 and a 200 day moving average of $81.22.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The business's quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 EPS.

Institutional Trading of Timken

Large investors have recently modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Timken during the 4th quarter valued at about $12,398,000. WCM Investment Management LLC grew its position in shares of Timken by 8.7% during the 4th quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company's stock valued at $16,443,000 after acquiring an additional 16,322 shares during the period. Duality Advisers LP increased its stake in shares of Timken by 226.3% in the 4th quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company's stock worth $2,227,000 after purchasing an additional 19,274 shares in the last quarter. Foundry Partners LLC raised its holdings in Timken by 5.6% in the 4th quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company's stock worth $6,999,000 after purchasing an additional 4,598 shares during the period. Finally, Citigroup Inc. lifted its position in Timken by 64.5% during the third quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company's stock valued at $883,000 after purchasing an additional 4,712 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

Insider Transactions at Timken

In other Timken news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the sale, the chief executive officer now directly owns 366,799 shares in the company, valued at approximately $32,678,122.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the transaction, the executive vice president now owns 84,995 shares in the company, valued at $7,590,053.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard G. Kyle sold 20,000 shares of Timken stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the sale, the chief executive officer now directly owns 366,799 shares of the company's stock, valued at approximately $32,678,122.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,006 shares of company stock worth $5,269,636. Corporate insiders own 8.70% of the company's stock.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.34 per share. This is a positive change from Timken's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, May 13th. Timken's dividend payout ratio (DPR) is currently 25.90%.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.