Zacks Research Predicts Timken’s FY2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Analysts at Zacks Research lowered their FY2024 EPS estimates for shares of Timken in a research note issued on Tuesday, November 19th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $5.62 for the year, down from their previous estimate of $6.03. The consensus estimate for Timken’s current full-year earnings is $5.61 per share. Zacks Research also issued estimates for Timken’s Q1 2025 earnings at $1.73 EPS, Q2 2025 earnings at $1.61 EPS, Q4 2025 earnings at $1.31 EPS, FY2025 earnings at $6.23 EPS, Q1 2026 earnings at $1.77 EPS, Q2 2026 earnings at $1.71 EPS, Q3 2026 earnings at $1.67 EPS and FY2026 earnings at $6.64 EPS.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS.

A number of other analysts have also commented on TKR. DA Davidson decreased their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Oppenheimer decreased their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. KeyCorp decreased their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $87.00 to $91.00 in a research note on Wednesday, November 13th. Finally, Citigroup started coverage on shares of Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Timken presently has a consensus rating of “Hold” and an average price target of $90.00.

Timken Stock Performance

Shares of TKR stock opened at $75.22 on Thursday. The firm has a market capitalization of $5.27 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43. The firm has a fifty day simple moving average of $81.53 and a two-hundred day simple moving average of $82.99. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. Timken has a 12 month low of $71.57 and a 12 month high of $94.71.

Institutional Investors Weigh In On Timken

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TKR. TT International Asset Management LTD increased its position in shares of Timken by 1,075.2% during the third quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after buying an additional 35,932 shares during the period. Neo Ivy Capital Management bought a new position in shares of Timken in the third quarter worth approximately $734,000. Geode Capital Management LLC increased its position in shares of Timken by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock worth $90,477,000 after purchasing an additional 5,970 shares during the last quarter. Vestcor Inc purchased a new stake in Timken in the third quarter valued at approximately $560,000. Finally, M&T Bank Corp raised its stake in Timken by 0.6% in the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after purchasing an additional 144 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is owned by insiders.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is currently 28.27%.

About Timken

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.