Jefferies Group LLC reiterated their hold rating on shares of The Timken Company (NYSE:TKR) in a research report released on Thursday, October 26th. They currently have a $50.00 price objective on the industrial products company’s stock. Jefferies Group also issued estimates for The Timken’s Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $2.63 EPS, Q3 2018 earnings at $0.80 EPS, FY2018 earnings at $3.15 EPS and FY2019 earnings at $3.50 EPS.
A number of other research firms have also issued reports on TKR. BidaskClub lowered The Timken from a hold rating to a sell rating in a report on Tuesday, August 1st. Zacks Investment Research lowered The Timken from a buy rating to a hold rating in a report on Wednesday, September 27th. ValuEngine raised The Timken from a hold rating to a buy rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a hold rating and set a $53.00 target price on shares of The Timken in a report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) lowered The Timken from a conviction-buy rating to a buy rating and lowered their target price for the stock from $55.00 to $51.00 in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $49.60.
Shares of The Timken (TKR) traded up $0.45 during midday trading on Thursday, hitting $46.65. 489,700 shares of the company were exchanged, compared to its average volume of 651,479. The Timken has a fifty-two week low of $37.80 and a fifty-two week high of $53.10. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3,620.83, a PE ratio of 19.36, a P/E/G ratio of 1.54 and a beta of 1.46.
The Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $771.40 million for the quarter, compared to analysts’ expectations of $758.91 million. The Timken had a net margin of 7.01% and a return on equity of 15.27%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. analysts expect that The Timken will post 2.62 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.08 dividend on an annualized basis and a yield of 2.32%. The Timken’s dividend payout ratio is currently 43.03%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in The Timken by 8.7% in the 3rd quarter. Wells Fargo & Company MN now owns 435,927 shares of the industrial products company’s stock worth $21,164,000 after purchasing an additional 34,717 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in The Timken by 16.8% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 52,100 shares of the industrial products company’s stock worth $2,529,000 after purchasing an additional 7,500 shares in the last quarter. Legal & General Group Plc increased its stake in The Timken by 5.9% in the 3rd quarter. Legal & General Group Plc now owns 94,098 shares of the industrial products company’s stock worth $4,569,000 after purchasing an additional 5,219 shares in the last quarter. Macquarie Group Ltd. increased its stake in The Timken by 15.0% in the 3rd quarter. Macquarie Group Ltd. now owns 28,300 shares of the industrial products company’s stock worth $1,374,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in The Timken by 1,056.9% in the 3rd quarter. Quantbot Technologies LP now owns 6,282 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 5,739 shares in the last quarter. 79.84% of the stock is currently owned by hedge funds and other institutional investors.
The Timken Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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