Timken Company (The) (NYSE:TKR) Announces $0.35 Quarterly Dividend

Key Points

• Timken Company has declared a quarterly dividend of $0.35 per share, with shareholders of record set to receive the payment on August 29th, representing an annual yield of 1.9%.
• The company's recent earnings per share beat consensus estimates, reporting $1.42 EPS for the quarter, with projected earnings of $6.71 per share next year.
• Market analysts have mixed ratings on Timken, with six hold ratings and four buy ratings, and a consensus price target of $79.90.

Timken Company (The) (NYSE:TKR - Get Free Report) announced a quarterly dividend on Monday, August 11th, Wall Street Journal reports. Investors of record on Tuesday, August 19th will be paid a dividend of 0.35 per share by the industrial products company on Friday, August 29th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, August 19th.

Timken has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Timken to earn $6.71 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 20.9%.

Timken Stock Performance

Shares of TKR traded down $1.14 during midday trading on Friday, reaching $75.94. 867,205 shares of the stock were exchanged, compared to its average volume of 753,297. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.69 and a beta of 1.30. Timken has a twelve month low of $56.20 and a twelve month high of $87.52. The business's 50-day moving average price is $75.57 and its 200 day moving average price is $73.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.08. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.15 billion. Timken had a return on equity of 11.78% and a net margin of 6.86%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. On average, sell-side analysts expect that Timken will post 5.62 EPS for the current fiscal year.

About Timken

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.