Timken Co (TKR) Expected to Post Earnings of $0.43 Per Share
Brokerages expect Timken Co (NYSE:TKR) to announce earnings per share (EPS) of $0.43 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Timken’s earnings, with estimates ranging from $0.41 to $0.45. Timken posted earnings of $0.46 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 6.5%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, April 26th.
On average, analysts expect that Timken will report full year earnings of $2.13 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.15. For the next fiscal year, analysts anticipate that the company will report earnings of $2.45 per share, with EPS estimates ranging from $2.20 to $2.60. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Timken.
Several research firms have weighed in on TKR. Jefferies Group LLC reiterated a “hold” rating and set a $45.00 price objective on shares of Timken in a research report on Tuesday. TheStreet upgraded Timken from a “c” rating to a “b-” rating in a research report on Thursday, February 9th. Goldman Sachs Group Inc upgraded Timken from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday, January 27th. Finally, Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Friday, January 20th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Timken has a consensus rating of “Buy” and an average price target of $42.25.
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Timken (NYSE:TKR) traded up 0.93% during trading on Tuesday, hitting $43.60. 675,623 shares of the stock were exchanged. Timken has a 1-year low of $28.72 and a 1-year high of $46.45. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 22.71 and a beta of 1.39. The firm’s 50 day moving average price is $44.24 and its 200-day moving average price is $40.77.
In other news, CFO Philip D. Fracassa sold 4,222 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $44.48, for a total transaction of $187,794.56. Following the sale, the chief financial officer now directly owns 40,538 shares of the company’s stock, valued at approximately $1,803,130.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shelly Marie Chadwick sold 2,322 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $44.75, for a total value of $103,909.50. Following the sale, the insider now directly owns 3,438 shares in the company, valued at $153,850.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,159 shares of company stock worth $3,804,623. 10.30% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in Timken by 8.8% in the third quarter. LS Investment Advisors LLC now owns 4,593 shares of the industrial products company’s stock valued at $161,000 after buying an additional 371 shares during the period. Rhumbline Advisers raised its stake in Timken by 5.7% in the third quarter. Rhumbline Advisers now owns 126,997 shares of the industrial products company’s stock valued at $4,463,000 after buying an additional 6,866 shares during the period. Teachers Advisors LLC raised its stake in Timken by 63.8% in the third quarter. Teachers Advisors LLC now owns 233,658 shares of the industrial products company’s stock valued at $8,211,000 after buying an additional 91,026 shares during the period. BlackRock Fund Advisors raised its stake in Timken by 6.3% in the third quarter. BlackRock Fund Advisors now owns 2,563,658 shares of the industrial products company’s stock valued at $90,087,000 after buying an additional 153,029 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in Timken by 1.6% in the third quarter. BlackRock Investment Management LLC now owns 208,821 shares of the industrial products company’s stock valued at $7,338,000 after buying an additional 3,275 shares during the period. 75.87% of the stock is currently owned by institutional investors.
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.
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