Timken Co (NYSE:TKR) – Equities researchers at Jefferies Group decreased their Q4 2018 earnings per share (EPS) estimates for Timken in a report released on Wednesday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will earn $0.85 per share for the quarter, down from their previous estimate of $0.95. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Timken’s FY2020 earnings at $4.45 EPS.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, January 23rd. Longbow Research raised shares of Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus cut their price target on shares of Timken from $53.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $52.25.
Timken (NYSE TKR) traded up $0.25 during trading hours on Monday, hitting $44.65. 277,813 shares of the stock traded hands, compared to its average volume of 824,406. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.13 and a current ratio of 2.23. The stock has a market cap of $3,450.08, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.18 and a beta of 1.44. Timken has a 52-week low of $41.78 and a 52-week high of $55.65.
Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $778.00 million during the quarter, compared to analyst estimates of $767.98 million. Timken had a net margin of 6.77% and a return on equity of 14.55%. Timken’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of TKR. PNC Financial Services Group Inc. boosted its stake in Timken by 2.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,006 shares of the industrial products company’s stock worth $463,000 after purchasing an additional 270 shares during the last quarter. Advisor Group Inc. boosted its stake in Timken by 19.7% during the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 666 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Timken during the 2nd quarter worth $17,219,000. HighTower Advisors LLC boosted its stake in Timken by 5.9% during the 2nd quarter. HighTower Advisors LLC now owns 12,809 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 710 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Timken by 11.2% during the 2nd quarter. Royal Bank of Canada now owns 60,929 shares of the industrial products company’s stock worth $2,817,000 after purchasing an additional 6,126 shares during the last quarter. 78.97% of the stock is owned by institutional investors.
In related news, insider Richard G. Kyle sold 9,242 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the sale, the insider now owns 89,236 shares of the company’s stock, valued at approximately $4,439,491. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.08% of the stock is currently owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Tuesday, February 20th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, February 16th. Timken’s payout ratio is presently 42.02%.
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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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