Timken (TKR) Updates FY 2018 Earnings Guidance

Timken (NYSE:TKR) issued an update on its FY 2018 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.18-4.23 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.19. The company issued revenue guidance of $3.59-3.59 billion, compared to the consensus revenue estimate of $3.64 billion.Timken also updated its FY18 guidance to $4.18-4.23 EPS.

Shares of TKR stock traded down $0.31 on Monday, reaching $37.25. 909,800 shares of the stock were exchanged, compared to its average volume of 739,550. The company has a market cap of $2.90 billion, a P/E ratio of 14.16, a PEG ratio of 0.60 and a beta of 1.58. Timken has a one year low of $36.50 and a one year high of $55.65. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57.

TKR has been the subject of a number of recent research reports. ValuEngine downgraded Timken from a sell rating to a strong sell rating in a research report on Friday, October 12th. Bank of America upgraded Timken from an underperform rating to a neutral rating and set a $56.00 target price for the company in a research report on Wednesday, August 8th. Goldman Sachs Group initiated coverage on Timken in a research report on Tuesday, October 2nd. They set a neutral rating and a $56.00 target price for the company. Zacks Investment Research upgraded Timken from a hold rating to a buy rating and set a $49.00 target price for the company in a research report on Saturday, October 13th. Finally, KeyCorp boosted their target price on Timken from $54.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $56.20.



In related news, CFO Philip D. Fracassa sold 3,582 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $48.39, for a total value of $173,332.98. Following the completion of the sale, the chief financial officer now owns 43,534 shares in the company, valued at $2,106,610.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shelly Marie Chadwick sold 1,043 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $48.85, for a total value of $50,950.55. Following the completion of the sale, the insider now owns 3,102 shares of the company’s stock, valued at approximately $151,532.70. The disclosure for this sale can be found here. Corporate insiders own 11.15% of the company’s stock.

About Timken

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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Earnings History and Estimates for Timken (NYSE:TKR)

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