Timken Co (NYSE:TKR) Expected to Announce Quarterly Sales of $705.23 Million

Analysts forecast that Timken Co (NYSE:TKR) will announce $705.23 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Timken’s earnings, with the lowest sales estimate coming in at $662.00 million and the highest estimate coming in at $730.70 million. Timken posted sales of $1.00 billion in the same quarter last year, which suggests a negative year over year growth rate of 29.5%. The firm is scheduled to announce its next earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that Timken will report full year sales of $3.21 billion for the current fiscal year, with estimates ranging from $3.13 billion to $3.27 billion. For the next financial year, analysts expect that the business will report sales of $3.48 billion, with estimates ranging from $3.41 billion to $3.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Timken.

Timken (NYSE:TKR) last released its quarterly earnings data on Friday, May 1st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. Timken had a net margin of 9.40% and a return on equity of 17.93%. The company had revenue of $923.40 million during the quarter, compared to the consensus estimate of $917.91 million. During the same period in the previous year, the firm earned $1.35 earnings per share. Timken’s revenue for the quarter was down 5.7% on a year-over-year basis.

A number of research firms have recently commented on TKR. KeyCorp reduced their target price on shares of Timken from $70.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, March 30th. TheStreet raised shares of Timken from a “c” rating to a “b-” rating in a research report on Wednesday, June 17th. Zacks Investment Research raised shares of Timken from a “sell” rating to a “hold” rating and set a $37.00 target price on the stock in a research report on Wednesday, May 27th. Finally, Morgan Stanley cut their price target on shares of Timken from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.67.

Shares of NYSE TKR traded up $0.95 during trading on Friday, reaching $45.12. 2,249,566 shares of the stock were exchanged, compared to its average volume of 671,343. The business’s 50-day moving average price is $42.20 and its 200 day moving average price is $45.09. Timken has a twelve month low of $22.25 and a twelve month high of $58.78. The company has a quick ratio of 1.65, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 6.40 and a beta of 1.81.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were issued a $0.28 dividend. The ex-dividend date was Thursday, May 21st. This represents a $1.12 annualized dividend and a yield of 2.48%. Timken’s dividend payout ratio is presently 24.35%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Driehaus Capital Management LLC acquired a new stake in shares of Timken during the fourth quarter worth $2,305,000. Wellington Management Group LLP raised its holdings in shares of Timken by 341.4% during the first quarter. Wellington Management Group LLP now owns 32,064 shares of the industrial products company’s stock worth $1,037,000 after purchasing an additional 24,800 shares during the period. Amalgamated Bank raised its holdings in shares of Timken by 11.0% during the fourth quarter. Amalgamated Bank now owns 15,409 shares of the industrial products company’s stock worth $868,000 after purchasing an additional 1,526 shares during the period. Deutsche Bank AG raised its holdings in shares of Timken by 1,352.4% during the first quarter. Deutsche Bank AG now owns 216,582 shares of the industrial products company’s stock worth $7,004,000 after purchasing an additional 201,670 shares during the period. Finally, ARP Americas LP acquired a new stake in shares of Timken during the fourth quarter worth $1,036,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Timken Company Profile

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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Earnings History and Estimates for Timken (NYSE:TKR)

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