Brokerages Expect Timken Co (NYSE:TKR) Will Post Quarterly Sales of $705.23 Million

Equities research analysts predict that Timken Co (NYSE:TKR) will announce $705.23 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Timken’s earnings. The highest sales estimate is $730.70 million and the lowest is $662.00 million. Timken reported sales of $1.00 billion during the same quarter last year, which would suggest a negative year over year growth rate of 29.5%. The firm is scheduled to report its next earnings results on Wednesday, July 29th.

On average, analysts expect that Timken will report full year sales of $3.21 billion for the current fiscal year, with estimates ranging from $3.13 billion to $3.27 billion. For the next year, analysts anticipate that the firm will post sales of $3.48 billion, with estimates ranging from $3.41 billion to $3.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Timken.

Timken (NYSE:TKR) last issued its earnings results on Friday, May 1st. The industrial products company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business had revenue of $923.40 million for the quarter, compared to the consensus estimate of $917.91 million. Timken had a net margin of 9.40% and a return on equity of 17.93%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 earnings per share.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Timken from a “sell” rating to a “hold” rating and set a $37.00 target price on the stock in a report on Wednesday, May 27th. TheStreet upgraded shares of Timken from a “c” rating to a “b-” rating in a research note on Wednesday, June 17th. KeyCorp reduced their price objective on shares of Timken from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, Morgan Stanley reduced their price objective on shares of Timken from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $53.67.

Shares of NYSE:TKR traded up $0.95 during midday trading on Friday, hitting $45.12. The stock had a trading volume of 2,249,566 shares, compared to its average volume of 671,343. The company has a market capitalization of $3.39 billion, a PE ratio of 9.85, a P/E/G ratio of 6.40 and a beta of 1.81. The stock has a 50 day moving average price of $42.20 and a two-hundred day moving average price of $45.09. The company has a current ratio of 2.72, a quick ratio of 1.65 and a debt-to-equity ratio of 0.98. Timken has a 1 year low of $22.25 and a 1 year high of $58.78.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, May 21st. Timken’s payout ratio is currently 24.35%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. raised its position in Timken by 5.8% during the first quarter. Invesco Ltd. now owns 1,924,704 shares of the industrial products company’s stock worth $62,245,000 after acquiring an additional 105,914 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Timken by 6.8% during the fourth quarter. AQR Capital Management LLC now owns 1,893,089 shares of the industrial products company’s stock worth $106,600,000 after purchasing an additional 120,776 shares in the last quarter. LSV Asset Management lifted its stake in Timken by 1.1% during the fourth quarter. LSV Asset Management now owns 1,744,175 shares of the industrial products company’s stock valued at $98,214,000 after buying an additional 18,900 shares in the last quarter. State Street Corp lifted its position in shares of Timken by 2.8% in the first quarter. State Street Corp now owns 1,719,218 shares of the industrial products company’s stock worth $55,600,000 after purchasing an additional 46,839 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Timken by 62.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,063,771 shares of the industrial products company’s stock worth $59,901,000 after purchasing an additional 407,082 shares in the last quarter. Institutional investors own 77.62% of the company’s stock.

About Timken

The Timken Company engineers, manufactures, and markets 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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Earnings History and Estimates for Timken (NYSE:TKR)

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