Timken Sets New 12-Month Low at $47.21 (TKR)
Timken (NYSE:TKR) reached a new 52-week low on Friday , Analyst RN reports. The stock traded as low as $47.21 and last traded at $47.45, with a volume of 743,626 shares. The stock had previously closed at $47.57.
TKR has been the subject of a number of recent research reports. Analysts at Jefferies Group cut their price target on shares of Timken from $75.00 to $60.00 in a research note on Monday. Separately, analysts at Zacks downgraded shares of Timken from a “neutral” rating to an “underperform” rating in a research note on Thursday, July 3rd. They now have a $47.70 price target on the stock. Finally, analysts at BB&T Corp. cut their price target on shares of Timken from $78.00 to $57.00 in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.46.
The stock has a 50-day moving average of $47.55 and a 200-day moving average of $43.3. The company has a market cap of $4.364 billion and a price-to-earnings ratio of 16.61. Timken also was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,236,619 shares, a decrease of 42.5% from the June 13th total of 2,151,733 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average trading volume of 1,065,145 shares, the days-to-cover ratio is presently 1.2 days.
Timken (NYSE:TKR) last posted its quarterly earnings results 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 $2.55 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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