Equities research analysts expect Timken Co (NYSE:TKR) to report $796.55 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Timken’s earnings, with the lowest sales estimate coming in at $779.10 million and the highest estimate coming in at $814.00 million. Timken posted sales of $703.80 million during the same quarter last year, which suggests a positive year over year growth rate of 13.2%. The business is expected to report its next earnings report on Wednesday, April 25th.
On average, analysts expect that Timken will report full-year sales of $796.55 million for the current fiscal year, with estimates ranging from $3.26 billion to $3.32 billion. For the next year, analysts forecast that the firm will report sales of $3.45 billion per share, with estimates ranging from $3.42 billion to $3.50 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Timken.
Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Timken had a net margin of 6.77% and a return on equity of 14.55%. The business had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $767.98 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year.
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. American International Group Inc. increased its holdings in shares of Timken by 0.9% in the fourth quarter. American International Group Inc. now owns 141,340 shares of the industrial products company’s stock worth $6,947,000 after purchasing an additional 1,200 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Timken by 25.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 6,349 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 1,277 shares during the period. BlackRock Inc. increased its holdings in shares of Timken by 3.3% in the fourth quarter. BlackRock Inc. now owns 5,734,858 shares of the industrial products company’s stock worth $281,869,000 after purchasing an additional 183,777 shares during the period. Rhumbline Advisers increased its holdings in shares of Timken by 6.7% in the fourth quarter. Rhumbline Advisers now owns 142,381 shares of the industrial products company’s stock worth $6,998,000 after purchasing an additional 8,962 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Timken by 26.5% in the fourth quarter. Arizona State Retirement System now owns 49,162 shares of the industrial products company’s stock worth $2,416,000 after purchasing an additional 10,293 shares during the period. 79.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Timken (NYSE:TKR) opened at $44.45 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.38 and a debt-to-equity ratio of 0.58. Timken has a 1-year low of $41.78 and a 1-year high of $55.65. The stock has a market cap of $3,450.00, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be issued a $0.27 dividend. The ex-dividend date is Friday, February 16th. This represents a $1.08 annualized dividend and a dividend yield of 2.43%. Timken’s payout ratio is currently 41.86%.
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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