Wall Street brokerages predict that Timken Co (NYSE:TKR) will report $1.08 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Timken’s earnings, with the lowest EPS estimate coming in at $1.05 and the highest estimate coming in at $1.09. Timken reported earnings per share of $0.68 in the same quarter last year, which would suggest a positive year over year growth rate of 58.8%. The business is scheduled to report its next quarterly earnings results before the market opens on Tuesday, July 31st.

On average, analysts expect that Timken will report full year earnings of $3.97 per share for the current year, with EPS estimates ranging from $3.95 to $4.01. For the next year, analysts forecast that the firm will post earnings of $4.54 per share, with EPS estimates ranging from $4.45 to $4.60. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Timken.
Timken (NYSE:TKR) last posted its earnings results on Tuesday, May 1st. The industrial products company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.17. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $836.56 million. Timken had a return on equity of 16.55% and a net margin of 7.71%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS.
TKR has been the subject of a number of research reports. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Saturday, March 24th. ValuEngine lowered Timken from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Vertical Research upgraded Timken from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Bank of America increased their price target on Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a report on Tuesday, May 22nd. Finally, Stifel Nicolaus upgraded Timken from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $60.00 in a report on Monday, May 28th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $52.83.
Shares of NYSE TKR traded down $0.30 during midday trading on Friday, reaching $45.05. 355,757 shares of the stock traded hands, compared to its average volume of 583,314. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.24 and a current ratio of 2.34. The company has a market capitalization of $3.50 billion, a P/E ratio of 17.13, a P/E/G ratio of 0.80 and a beta of 1.53. Timken has a one year low of $41.85 and a one year high of $55.65.
In other Timken news, CFO Philip D. Fracassa sold 3,739 shares of the stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $47.71, for a total value of $178,387.69. Following the sale, the chief financial officer now owns 43,534 shares in the company, valued at $2,077,007.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ward J. Timken, Jr. sold 4,002 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $49.10, for a total value of $196,498.20. Following the completion of the sale, the director now owns 269,902 shares in the company, valued at approximately $13,252,188.20. The disclosure for this sale can be found here. Corporate insiders own 11.15% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TKR. Vaughan Nelson Investment Management L.P. purchased a new stake in Timken in the first quarter worth $40,486,000. Epoch Investment Partners Inc. purchased a new stake in Timken in the first quarter worth $24,615,000. Victory Capital Management Inc. increased its stake in Timken by 46.3% in the first quarter. Victory Capital Management Inc. now owns 1,218,249 shares of the industrial products company’s stock worth $55,552,000 after purchasing an additional 385,825 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Timken by 75.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 852,536 shares of the industrial products company’s stock worth $38,877,000 after purchasing an additional 365,406 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Timken by 46.9% during the first quarter. Millennium Management LLC now owns 1,060,345 shares of the industrial products company’s stock valued at $48,352,000 after buying an additional 338,365 shares during the period. Institutional investors and hedge funds own 77.35% of the company’s stock.