Q2 2024 Earnings Estimate for The Timken Company (NYSE:TKR) Issued By Zacks Research

The Timken Company (NYSE:TKR) – Equities research analysts at Zacks Research upped their Q2 2024 earnings per share (EPS) estimates for Timken in a note issued to investors on Tuesday, June 25th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $1.56 per share for the quarter, up from their previous estimate of $1.55. The consensus estimate for Timken’s current full-year earnings is $6.20 per share. Zacks Research also issued estimates for Timken’s Q4 2024 earnings at $1.29 EPS, FY2024 earnings at $6.15 EPS, Q1 2025 earnings at $1.83 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $6.90 EPS, Q1 2026 earnings at $1.88 EPS and FY2026 earnings at $7.27 EPS.

Other equities analysts also recently issued research reports about the company. Raymond James started coverage on Timken in a report on Friday. They issued a “market perform” rating on the stock. Stifel Nicolaus increased their price target on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Loop Capital lifted their price objective on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Oppenheimer reiterated an “outperform” rating and issued a $100.00 price objective (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Finally, KeyCorp raised their target price on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Timken currently has an average rating of “Hold” and an average price target of $87.91.

Timken Price Performance

Shares of NYSE:TKR opened at $80.13 on Thursday. The company has a market cap of $5.64 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.70 and a beta of 1.50. The company’s fifty day moving average is $86.20 and its two-hundred day moving average is $83.84. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. Timken has a 12-month low of $65.71 and a 12-month high of $95.08.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $2.09 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.33. Timken’s payout ratio is currently 25.90%.

Insider Activity at Timken

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

Hedge Funds Weigh In On Timken

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Timken during the fourth quarter worth $56,995,000. Fiduciary Management Inc. WI boosted its position in Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after buying an additional 551,097 shares in the last quarter. Vanguard Group Inc. grew its stake in Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares during the last quarter. Provident Investment Management Inc. acquired a new stake in shares of Timken during the third quarter worth approximately $23,408,000. Finally, Interval Partners LP bought a new position in shares of Timken in the first quarter valued at approximately $22,907,000. Institutional investors own 89.08% of the company’s stock.

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.