Equities Analysts Offer Predictions for The Timken Company’s Q2 2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Timken in a research report issued on Friday, May 3rd. DA Davidson analyst M. Shlisky expects that the industrial products company will post earnings per share of $1.56 for the quarter. DA Davidson has a “Buy” rating and a $92.00 price objective on the stock. The consensus estimate for Timken’s current full-year earnings is $6.18 per share. DA Davidson also issued estimates for Timken’s FY2025 earnings at $7.09 EPS.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus upped their target price on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price on the stock. in a research report on Tuesday, February 20th. Morgan Stanley began coverage on shares of Timken in a research report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price target for the company. Finally, Loop Capital lifted their price objective on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $87.09.

Timken Stock Up 0.4 %

Shares of NYSE:TKR opened at $89.49 on Monday. The business’s 50 day moving average is $86.12 and its 200 day moving average is $80.00. The stock has a market cap of $6.30 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51. Timken has a 52-week low of $65.71 and a 52-week high of $95.08. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the business posted $2.09 EPS.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is currently 25.14%.

Institutional Investors Weigh In On Timken

A number of institutional investors and hedge funds have recently modified their holdings of TKR. Norges Bank purchased a new stake in shares of Timken in the 4th quarter valued at $56,995,000. Fiduciary Management Inc. WI boosted its position in Timken by 94.7% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after purchasing an additional 551,097 shares in the last quarter. Provident Investment Management Inc. purchased a new position in Timken during the third quarter worth approximately $23,408,000. Stansberry Asset Management LLC acquired a new stake in Timken in the third quarter valued at approximately $16,422,000. Finally, Atlantic Investment Management Inc. increased its position in shares of Timken by 69.4% in the third quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock valued at $38,222,000 after buying an additional 213,000 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.