Timken (TKR) to Release Quarterly Earnings on Monday

Timken (NYSE:TKRGet Rating) will post its quarterly earnings results before the market opens on Monday, May 2nd. Analysts expect Timken to post earnings of $1.16 per share for the quarter. Timken has set its FY22 guidance at $5.00-5.40 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Timken (NYSE:TKRGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.14). Timken had a return on equity of 15.51% and a net margin of 8.93%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $982.62 million. During the same quarter last year, the firm earned $0.84 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. On average, analysts expect Timken to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Shares of Timken stock opened at $58.75 on Monday. Timken has a 52-week low of $55.32 and a 52-week high of $92.39. The company has a quick ratio of 1.31, a current ratio of 2.47 and a debt-to-equity ratio of 0.59. The company’s 50-day simple moving average is $62.01 and its 200-day simple moving average is $67.25. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.98 and a beta of 1.64.

The company also recently declared a quarterly dividend, which was paid on Friday, March 4th. Stockholders of record on Tuesday, February 22nd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from Timken’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 18th. Timken’s payout ratio is 25.05%.

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $68.32, for a total transaction of $341,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.79% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC acquired a new stake in shares of Timken in the fourth quarter worth $447,000. NewEdge Advisors LLC acquired a new stake in shares of Timken in the fourth quarter worth $693,000. Metropolitan Life Insurance Co NY increased its position in shares of Timken by 8.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 12,255 shares of the industrial products company’s stock worth $849,000 after acquiring an additional 965 shares in the last quarter. LPL Financial LLC increased its position in shares of Timken by 24.2% in the fourth quarter. LPL Financial LLC now owns 4,348 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 847 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Timken by 11.9% in the fourth quarter. Nuveen Asset Management LLC now owns 137,018 shares of the industrial products company’s stock worth $9,494,000 after acquiring an additional 14,586 shares in the last quarter. 80.55% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Timken in a research report on Wednesday, April 13th. They set an “outperform” rating and a $75.00 target price on the stock. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Tuesday, February 15th. They noted that the move was a valuation call. The Goldman Sachs Group lowered their target price on shares of Timken from $74.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, April 7th. Bank of America lowered shares of Timken from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $80.00 in a research report on Friday, January 7th. Finally, Zacks Investment Research raised shares of Timken from a “sell” rating to a “hold” rating and set a $59.00 price target on the stock in a report on Thursday, April 7th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $78.00.

About Timken (Get Rating)

The Timken Company designs, manufactures, and manages 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.

See Also

Earnings History for Timken (NYSE:TKR)

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