Timken Company (The) (NYSE:TKR) Receives $79.00 Average Target Price from Brokerages

Timken Company (The) (NYSE:TKR) has been assigned a consensus recommendation of “Hold” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $79.00.

TKR has been the topic of a number of research analyst reports. Oppenheimer cut their price target on shares of Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley lowered their target price on shares of Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group reduced their price objective on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, DA Davidson upped their price objective on shares of Timken from $66.00 to $71.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th.

Timken Stock Performance

NYSE TKR opened at $76.35 on Friday. The firm’s fifty day moving average price is $72.40 and its two-hundred day moving average price is $72.67. The stock has a market cap of $5.34 billion, a PE ratio of 16.45, a PEG ratio of 1.84 and a beta of 1.27. Timken has a fifty-two week low of $56.20 and a fifty-two week high of $90.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). Timken had a return on equity of 12.62% and a net margin of 7.24%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $1.77 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Timken will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were given a $0.35 dividend. This is a boost from Timken’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.83%. Timken’s payout ratio is presently 30.17%.

Hedge Funds Weigh In On Timken

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Timken by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,147 shares of the industrial products company’s stock worth $46,615,000 after acquiring an additional 3,195 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Timken during the fourth quarter worth about $3,101,000. Raymond James Financial Inc. bought a new stake in Timken during the fourth quarter worth about $14,460,000. Amundi boosted its stake in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 174 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 1,559 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Company Profile

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.