Jefferies Group Brokers Lift Earnings Estimates for Timken Co (TKR)

Timken Co (NYSE:TKR) – Jefferies Group increased their FY2018 earnings estimates for Timken in a report issued on Thursday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $3.45 per share for the year, up from their previous estimate of $3.15. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Timken’s FY2019 earnings at $3.95 EPS.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The business had revenue of $771.40 million during the quarter, compared to analyst estimates of $758.91 million. Timken had a net margin of 6.88% and a return on equity of 13.75%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share.

Several other research firms have also commented on TKR. Longbow Research raised shares of Timken from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded shares of Timken from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.00.

Shares of Timken (NYSE TKR) opened at $55.25 on Monday. The company has a market cap of $4,288.35, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.51 and a beta of 1.50. Timken has a 1 year low of $41.78 and a 1 year high of $55.35. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66.

Several institutional investors and hedge funds have recently bought and sold shares of TKR. Wells Fargo & Company MN increased its holdings in Timken by 9.5% in the 2nd quarter. Wells Fargo & Company MN now owns 401,210 shares of the industrial products company’s stock worth $18,556,000 after buying an additional 34,695 shares during the period. Ameriprise Financial Inc. increased its holdings in Timken by 4.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 268,963 shares of the industrial products company’s stock worth $12,440,000 after buying an additional 12,292 shares during the period. Nationwide Fund Advisors increased its holdings in Timken by 2.1% in the 2nd quarter. Nationwide Fund Advisors now owns 118,991 shares of the industrial products company’s stock worth $5,503,000 after buying an additional 2,437 shares during the period. BlackRock Inc. increased its holdings in Timken by 1.3% in the 2nd quarter. BlackRock Inc. now owns 5,746,878 shares of the industrial products company’s stock worth $265,793,000 after buying an additional 72,454 shares during the period. Finally, Amalgamated Bank increased its holdings in Timken by 21.8% in the 2nd quarter. Amalgamated Bank now owns 13,571 shares of the industrial products company’s stock worth $628,000 after buying an additional 2,431 shares during the period. Hedge funds and other institutional investors own 78.92% of the company’s stock.

In other news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the transaction, the insider now owns 89,236 shares in the company, valued at $4,439,491. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.08% of the company’s stock.

WARNING: “Jefferies Group Brokers Lift Earnings Estimates for Timken Co (TKR)” was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2018/01/22/jefferies-group-brokers-lift-earnings-estimates-for-timken-co-tkr.html.

Timken Company Profile

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.

Earnings History and Estimates for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply