Timken (TKR) Set to Announce Earnings on Tuesday

Timken (NYSE:TKR) is scheduled to release its earnings data before the market opens on Tuesday, April 30th. Analysts expect Timken to post 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Timken (NYSE:TKR) last posted its earnings results on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. Timken’s quarterly revenue was up .9% on a year-over-year basis. 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

NYSE TKR opened at $84.98 on Friday. Timken has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.54. The company has a 50-day moving average price of $85.33 and a two-hundred day moving average price of $79.44.

Timken Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TKR shares. Oppenheimer reiterated an “outperform” rating and issued a $100.00 price objective (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Evercore ISI cut shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective for the company. in a report on Tuesday, February 20th. Morgan Stanley started coverage on shares of Timken in a report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Finally, StockNews.com cut shares of Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.