Timken Sets New 52-Week High at $64.70 (TKR)
Shares of Timken (NYSE:TKR) hit a new 52-week high on Tuesday , Analyst Ratings Network.com reports. The stock traded as high as $64.70 and last traded at $63.92, with a volume of 331,377 shares. The stock had previously closed at $64.16.
Several analysts have recently commented on the stock. Analysts at Gabelli upgraded shares of Timken from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th. They now have a $78.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Timken to $75.00 in a research note on Friday, April 25th. They now have a “buy” rating on the stock. Finally, analysts at KeyCorp downgraded shares of Timken from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. They now have a $70.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $66.28.
The stock has a 50-day moving average of $61.5 and a 200-day moving average of $57.25. The company has a market cap of $5.880 billion and a P/E ratio of 22.40.
Timken (NYSE:TKR) last released its earnings data on Thursday, April 24th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts predict that Timken will post $3.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 3rd. Shareholders of record on Friday, May 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, May 21st.
The Timken Company (NYSE:TKR) develops, manufactures, markets and sells products for friction management and mechanical power transmission, alloy steels and steel components.
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