Timken (TKR) Set to Announce Earnings on Tuesday

Timken (NYSE:TKR) will be announcing its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.50 per share for the quarter. Timken has set its FY24 guidance at $5.80-6.20 EPS and its FY 2024 guidance at 5.800-6.200 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Timken (NYSE:TKR) last issued its earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.15. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Timken had a net margin of 8.26% and a return on equity of 19.57%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. On average, analysts expect Timken to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Timken Price Performance

Shares of TKR opened at $84.98 on Monday. The company has a market capitalization of $5.98 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.18 and a beta of 1.54. The business’s 50-day moving average is $85.33 and its two-hundred day moving average is $79.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.79. Timken has a fifty-two week low of $65.71 and a fifty-two week high of $95.08.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were paid a $0.33 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.55%. Timken’s payout ratio is 24.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. DA Davidson started coverage on Timken in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $100.00 price objective (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. The Goldman Sachs Group increased their target price on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. StockNews.com lowered Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Timken presently has an average rating of “Hold” and a consensus target price of $85.90.

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.