Timken Upgraded at Zacks (TKR)
Timken (NYSE:TKR) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday. The firm currently has a $47.10 target price on the stock. Zacks‘s target price indicates a potential upside of 2.18% from the company’s current price.
Shares of Timken (NYSE:TKR) traded down 0.18% during mid-day trading on Tuesday, hitting $46.055. 502,069 shares of the company’s stock traded hands. Timken has a 52 week low of $35.9485 and a 52 week high of $49.96. The stock’s 50-day moving average is $47. and its 200-day moving average is $44.77. The company has a market cap of $4.181 billion and a P/E ratio of 17.19.
Timken (NYSE:TKR) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.65 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.67 by $0.02. The company had revenue of $789.00 million for the quarter, compared to the consensus estimate of $800.10 million. During the same quarter last year, the company posted $0.57 earnings per share. Timken’s revenue was down 30.0% compared to the same quarter last year. On average, analysts predict that Timken will post $2.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, August 15th.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group cut their price target on shares of Timken from $75.00 to $60.00 in a research note on Monday, July 7th. Separately, 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.39.
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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