Timken (NYSE:TKR) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Timken (NYSE:TKR) released its quarterly earnings data on Tuesday. The industrial products company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.27, Briefing.com reports. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 EPS. Timken updated its FY 2024 guidance to 6.000-6.300 EPS.

Timken Stock Down 2.0 %

Shares of TKR stock opened at $87.48 on Thursday. Timken has a 1 year low of $65.71 and a 1 year high of $95.08. The stock has a market cap of $6.16 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51. The business’s fifty day moving average is $85.62 and its 200-day moving average is $79.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.87.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, February 16th. Timken’s dividend payout ratio (DPR) is presently 25.14%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. DA Davidson assumed coverage on Timken in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Loop Capital boosted their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a report on Tuesday, February 20th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $100.00 price target (up from $97.00) on shares of Timken in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $86.73.

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.