Timken (TKR) Releases Earnings Results, Beats Estimates By $0.01 EPS

Timken (NYSE:TKR) announced its earnings results on Wednesday. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01, Bloomberg Earnings reports. Timken had a return on equity of 13.75% and a net margin of 6.88%. The firm had revenue of $778.00 million for the quarter, compared to the consensus estimate of $767.98 million. During the same quarter in the previous year, the business earned $0.47 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. Timken updated its FY18 guidance to $3.20-3.30 EPS.

Timken (NYSE TKR) opened at $46.00 on Thursday. The firm has a market cap of $3,776.07, a price-to-earnings ratio of 18.33, a PEG ratio of 1.30 and a beta of 1.44. Timken has a 1-year low of $41.78 and a 1-year high of $55.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.59 and a quick ratio of 1.38.

Several equities analysts recently commented on the company. Stifel Nicolaus dropped their price objective on Timken from $53.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday. Jefferies Group raised shares of Timken from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Finally, Longbow Research raised shares of Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.25.

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

Several institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of Timken by 0.3% in the second quarter. Sterling Capital Management LLC now owns 18,698 shares of the industrial products company’s stock worth $865,000 after purchasing an additional 47 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Timken by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 10,006 shares of the industrial products company’s stock worth $463,000 after purchasing an additional 270 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Timken by 0.9% in the second quarter. Ameritas Investment Partners Inc. now owns 55,066 shares of the industrial products company’s stock worth $2,546,000 after purchasing an additional 487 shares during the period. Advisor Group Inc. increased its holdings in shares of Timken by 19.7% in the second quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 666 shares during the period. Finally, HighTower Advisors LLC increased its holdings in shares of Timken by 5.9% in the second quarter. HighTower Advisors LLC now owns 12,809 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 710 shares during the period. 79.33% of the stock is currently owned by hedge funds and other institutional investors.

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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 for Timken (NYSE:TKR)

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