Timken Co (NYSE:TKR) – Investment analysts at Jefferies Financial Group upped their FY2020 earnings per share estimates for shares of Timken in a report released on Tuesday, October 30th. Jefferies Financial Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $5.80 per share for the year, up from their previous estimate of $5.15.
Timken (NYSE:TKR) last posted its quarterly earnings results on Monday, October 29th. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). Timken had a return on equity of 19.58% and a net margin of 7.89%. The company had revenue of $881.30 million for the quarter, compared to analysts’ expectations of $912.58 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s revenue was up 14.2% on a year-over-year basis.
Several other research firms have also commented on TKR. ValuEngine lowered Timken from a “sell” rating to a “strong sell” rating in a report on Friday, October 12th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a report on Wednesday, August 8th. Goldman Sachs Group started coverage on Timken in a report on Tuesday, October 2nd. They set a “neutral” rating and a $56.00 price target on the stock. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Saturday, October 13th. Finally, KeyCorp lifted their price target on Timken from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.20.
Shares of NYSE TKR traded up $0.05 during trading on Friday, hitting $40.29. 18,336 shares of the company were exchanged, compared to its average volume of 922,340. Timken has a 12-month low of $34.90 and a 12-month high of $55.65. The company has a quick ratio of 1.30, a current ratio of 2.72 and a debt-to-equity ratio of 1.03. The firm has a market cap of $2.94 billion, a PE ratio of 15.25, a P/E/G ratio of 0.61 and a beta of 1.58.
A number of institutional investors and hedge funds have recently modified their holdings of TKR. Assenagon Asset Management S.A. purchased a new stake in Timken in the 3rd quarter valued at about $17,907,000. Victory Capital Management Inc. increased its stake in Timken by 23.3% during the third quarter. Victory Capital Management Inc. now owns 1,384,005 shares of the industrial products company’s stock worth $68,993,000 after purchasing an additional 261,313 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Timken during the second quarter worth about $9,475,000. ClariVest Asset Management LLC purchased a new stake in Timken during the second quarter worth about $7,376,000. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in Timken during the second quarter worth about $7,051,000. Hedge funds and other institutional investors own 77.51% of the company’s stock.
In related news, CFO Philip D. Fracassa sold 3,582 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $48.39, for a total value of $173,332.98. Following the sale, the chief financial officer now directly owns 43,534 shares in the company, valued at approximately $2,106,610.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shelly Marie Chadwick sold 1,043 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $48.85, for a total transaction of $50,950.55. Following the completion of the sale, the insider now owns 3,102 shares in the company, valued at $151,532.70. The disclosure for this sale can be found here. 11.15% of the stock is currently owned by insiders.
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and 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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