Zacks: Analysts Anticipate The Timken Company (NYSE:TKR) Will Announce Quarterly Sales of $1.12 Billion

Brokerages predict that The Timken Company (NYSE:TKR – Get Rating) will announce sales of $1.12 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Timken’s earnings, with estimates ranging from $1.10 billion to $1.14 billion. Timken posted sales of $1.03 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The firm is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Timken will report full-year sales of $4.54 billion for the current financial year, with estimates ranging from $4.52 billion to $4.57 billion. For the next year, analysts anticipate that the business will post sales of $4.86 billion, with estimates ranging from $4.82 billion to $4.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Timken.

Timken (NYSE:TKR – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The industrial products company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.14). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $982.62 million. Timken had a return on equity of 15.51% and a net margin of 8.93%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share.

Several equities research analysts have issued reports on TKR shares. Zacks Investment Research upgraded Timken from a “sell” rating to a “hold” rating and set a $59.00 price objective on the stock in a report on Thursday, April 7th. StockNews.com downgraded Timken from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Tuesday, February 15th. They noted that the move was a valuation call. Bank of America downgraded Timken from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $80.00 in a report on Friday, January 7th. Finally, The Goldman Sachs Group lowered their price target on Timken from $74.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, April 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has an average rating of “Hold” and an average target price of $78.00.

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

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

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 18th. The stock was 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. Insiders own 10.79% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Kovitz Investment Group Partners LLC lifted its holdings in shares of Timken by 50.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 13,664 shares of the industrial products company’s stock valued at $829,000 after buying an additional 4,606 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Timken by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the industrial products company’s stock valued at $1,116,000 after buying an additional 400 shares during the period. Inspire Investing LLC acquired a new stake in shares of Timken in the first quarter valued at $233,000. Stanley Laman Group Ltd. acquired a new stake in shares of Timken in the first quarter valued at $2,022,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in shares of Timken in the first quarter valued at $30,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

Timken Company Profile (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.

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