Timken Hits New 12-Month Low at $47.86 (TKR)
Shares of Timken (NYSE:TKR) hit a new 52-week low during mid-day trading on Tuesday , AnalystRatings.Net reports. The stock traded as low as $47.86 and last traded at $48.25, with a volume of 1,258,618 shares changing hands. The stock had previously closed at $67.84.
Several analysts have recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of Timken in a research note on Monday. They set a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Timken in a research note on Tuesday, June 24th. They now have a $56.00 price target on the stock, down previously from $65.00. Finally, analysts at Stifel Nicolaus cut their price target on shares of Timken from $65.00 to $56.00 in a research note on Tuesday, June 24th. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.10.
The stock has a 50-day moving average of $46.83 and a 200-day moving average of $42.8. The company has a market cap of $4.398 billion and a price-to-earnings ratio of 16.96.
Timken (NYSE:TKR) last released its earnings data on Thursday, April 24th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts expect that Timken will post $3.83 EPS for the current fiscal year.
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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