The Timken Company (NYSE:TKR) Expected to Post Quarterly Sales of $1.13 Billion

Equities analysts forecast that The Timken Company (NYSE:TKR – Get Rating) will post $1.13 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Timken’s earnings, with estimates ranging from $1.12 billion to $1.15 billion. Timken posted sales of $1.06 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Timken will report full-year sales of $4.48 billion for the current year, with estimates ranging from $4.47 billion to $4.50 billion. For the next year, analysts forecast that the company will report sales of $4.79 billion, with estimates ranging from $4.76 billion to $4.85 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Timken.

Timken (NYSE:TKR – Get Rating) last announced its quarterly earnings data on Monday, May 2nd. The industrial products company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.46. Timken had a net margin of 8.84% and a return on equity of 15.97%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company earned $1.38 EPS. The firm’s revenue was up 9.6% on a year-over-year basis.

TKR has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of Timken from $76.00 to $72.00 and set an “equal weight” rating for the company in a report on Monday, April 18th. KeyCorp decreased their price target on shares of Timken from $84.00 to $75.00 in a research note on Tuesday, May 3rd. StockNews.com upgraded shares of Timken from a “hold” rating to a “buy” rating in a research note on Tuesday, May 3rd. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and set a $78.00 price target for the company in a research note on Tuesday, February 15th. They noted that the move was a valuation call. Finally, Oppenheimer began coverage on shares of Timken in a research note on Wednesday, April 13th. They issued an “outperform” rating and a $75.00 price target for the company. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $77.10.

Shares of Timken stock opened at $58.28 on Friday. Timken has a 52-week low of $55.32 and a 52-week high of $90.60. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.91 and a beta of 1.56. The company has a fifty day moving average of $60.02 and a 200-day moving average of $66.05. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 2.94.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th will be paid a dividend of $0.31 per share. This is a boost from Timken’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.24 dividend on an annualized basis and a yield of 2.13%. Timken’s dividend payout ratio (DPR) is presently 24.59%.

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

Hedge funds have recently modified their holdings of the company. TCI Wealth Advisors Inc. boosted its position in Timken by 101.7% in the fourth quarter. TCI Wealth Advisors Inc. now owns 361 shares of the industrial products company’s stock valued at $25,000 after buying an additional 182 shares during the last quarter. CWM LLC acquired a new position in Timken in the 4th quarter valued at about $28,000. Confluence Wealth Services Inc. acquired a new position in shares of Timken during the fourth quarter worth about $30,000. GPS Wealth Strategies Group LLC purchased a new stake in Timken during the first quarter worth approximately $30,000. Finally, Covestor Ltd purchased a new stake in Timken in the fourth quarter valued at approximately $70,000. Institutional investors and hedge funds own 80.18% of the company’s stock.

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.

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