Timken Company (The) (TKR) Plans $0.27 Quarterly Dividend
Timken Company (The) (NYSE:TKR) declared a quarterly dividend on Friday, November 3rd, RTT News reports. Investors of record on Friday, November 17th will be given a dividend of 0.27 per share by the industrial products company on Friday, December 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.31%.
Timken Company (The) has increased its dividend by an average of 4.2% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Timken Company (The) has a payout ratio of 41.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Timken Company (The) to earn $3.06 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 35.3%.
Timken Company (The) (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The company had revenue of $771.40 million for the quarter, compared to the consensus estimate of $758.91 million. Timken Company (The) had a net margin of 6.88% and a return on equity of 13.75%. Timken Company (The)’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share.
A number of research analysts have weighed in on TKR shares. Goldman Sachs Group, Inc. (The) cut shares of Timken Company (The) from a “conviction-buy” rating to a “buy” rating and cut their price objective for the company from $55.00 to $51.00 in a research report on Monday, August 7th. ValuEngine upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, July 26th. BidaskClub upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $50.00 price objective on shares of Timken Company (The) in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $47.50.
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About Timken Company (The)
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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