$904.30 Million in Sales Expected for Timken Co (TKR) This Quarter
Wall Street brokerages expect Timken Co (NYSE:TKR) to report sales of $904.30 million for the current quarter, according to Zacks. Two analysts have made estimates for Timken’s earnings. The highest sales estimate is $917.10 million and the lowest is $891.50 million. Timken posted sales of $771.40 million during the same quarter last year, which would indicate a positive year over year growth rate of 17.2%. The company is expected to announce its next quarterly earnings results on Wednesday, October 24th.
On average, analysts expect that Timken will report full-year sales of $3.64 billion for the current financial year, with estimates ranging from $3.63 billion to $3.64 billion. For the next financial year, analysts forecast that the company will report sales of $3.98 billion, with estimates ranging from $3.94 billion to $4.04 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Timken.
Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.03. The firm had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $904.77 million. Timken had a net margin of 7.60% and a return on equity of 18.39%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS.
Timken stock traded down $0.83 during trading hours on Wednesday, hitting $42.84. The company had a trading volume of 820,719 shares, compared to its average volume of 730,483. The stock has a market cap of $3.84 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.80 and a beta of 1.58. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57. Timken has a one year low of $41.85 and a one year high of $55.65.
In related news, insider Shelly Marie Chadwick sold 1,043 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $48.85, for a total transaction of $50,950.55. Following the sale, the insider now owns 3,102 shares in the company, valued at approximately $151,532.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Philip D. Fracassa sold 3,582 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $48.39, for a total transaction of $173,332.98. Following the sale, the chief financial officer now owns 43,534 shares in the company, valued at approximately $2,106,610.26. The disclosure for this sale can be found here. Corporate insiders own 11.15% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Timken by 1.0% during the 2nd quarter. BlackRock Inc. now owns 6,030,610 shares of the industrial products company’s stock worth $262,632,000 after acquiring an additional 60,473 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Timken by 1.8% during the 1st quarter. Earnest Partners LLC now owns 1,966,488 shares of the industrial products company’s stock worth $89,672,000 after acquiring an additional 34,121 shares in the last quarter. Boston Partners boosted its position in shares of Timken by 2.6% during the 2nd quarter. Boston Partners now owns 1,944,278 shares of the industrial products company’s stock worth $84,673,000 after acquiring an additional 48,733 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Timken by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,788,248 shares of the industrial products company’s stock worth $77,879,000 after acquiring an additional 93,934 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Timken by 4.2% during the 2nd quarter. LSV Asset Management now owns 1,535,875 shares of the industrial products company’s stock worth $66,887,000 after acquiring an additional 61,800 shares in the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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