Brokers Issue Forecasts for Timken Co’s Q1 2018 Earnings (TKR)
Timken Co (NYSE:TKR) – Equities researchers at KeyCorp issued their Q1 2018 earnings estimates for shares of Timken in a research note issued on Wednesday. KeyCorp analyst S. Barger expects that the industrial products company will post earnings of $0.73 per share for the quarter. KeyCorp also issued estimates for Timken’s Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $0.85 EPS, Q4 2018 earnings at $0.82 EPS and FY2018 earnings at $3.26 EPS.
TKR has been the subject of several other research reports. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Tuesday, February 6th. Jefferies Group reiterated a “hold” rating and issued a $50.00 price objective on shares of Timken in a research report on Thursday, October 26th. Longbow Research upgraded Timken from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus cut their price objective on Timken from $53.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Timken currently has an average rating of “Hold” and a consensus price target of $52.25.
Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $778.00 million during the quarter, compared to the consensus estimate of $767.98 million. Timken had a return on equity of 14.55% and a net margin of 6.77%. Timken’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th will be given a $0.27 dividend. The ex-dividend date is Friday, February 16th. This represents a $1.08 annualized dividend and a yield of 2.43%. Timken’s payout ratio is 42.02%.
In other Timken news, insider Richard G. Kyle sold 9,242 shares of Timken stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the transaction, the insider now owns 89,236 shares in the company, valued at approximately $4,439,491. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 11.08% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Timken by 3.3% in the 4th quarter. BlackRock Inc. now owns 5,734,858 shares of the industrial products company’s stock valued at $281,869,000 after buying an additional 183,777 shares during the period. Boston Partners increased its stake in shares of Timken by 3.8% in the 4th quarter. Boston Partners now owns 2,405,305 shares of the industrial products company’s stock valued at $118,221,000 after buying an additional 88,955 shares during the period. Earnest Partners LLC increased its stake in shares of Timken by 1.3% in the 3rd quarter. Earnest Partners LLC now owns 1,995,646 shares of the industrial products company’s stock valued at $96,889,000 after buying an additional 25,770 shares during the period. State Street Corp increased its stake in shares of Timken by 0.5% in the 2nd quarter. State Street Corp now owns 1,922,313 shares of the industrial products company’s stock valued at $88,912,000 after buying an additional 9,601 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Timken by 20.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,350,766 shares of the industrial products company’s stock valued at $62,473,000 after buying an additional 230,730 shares during the period. 78.97% of the stock is owned by institutional investors.
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The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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