Timken (TKR) to Release Quarterly Earnings on Wednesday

Timken (NYSE:TKR) is scheduled to be releasing its earnings data before the market opens on Wednesday, July 31st. Analysts expect Timken to post earnings of $1.61 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company earned $2.09 EPS. Timken’s revenue was down 5.7% on a year-over-year basis. On average, analysts expect Timken to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Timken Price Performance

Shares of NYSE TKR opened at $84.96 on Tuesday. Timken has a twelve month low of $65.71 and a twelve month high of $94.71. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.81 and a beta of 1.46. The firm has a 50-day moving average of $83.34 and a two-hundred day moving average of $84.40.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.60%. This is an increase from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, May 13th. Timken’s dividend payout ratio is presently 25.90%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Raymond James assumed coverage on shares of Timken in a research note on Friday, June 28th. They set a “market perform” rating for the company. KeyCorp upped their price objective on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Stifel Nicolaus upped their price objective on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Loop Capital upped their price objective on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.91.

Insider Buying and Selling

In related news, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now owns 84,995 shares in the company, valued at $7,590,053.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Timken news, CFO Philip D. Fracassa sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the transaction, the chief financial officer now owns 105,541 shares in the company, valued at $9,473,360.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now owns 84,995 shares in the company, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,006 shares of company stock worth $5,269,636. Insiders own 8.70% of the company’s stock.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.