The Timken Company (NYSE:TKR) Receives Average “Buy” Rating from Brokerages
The Timken Company (NYSE: TKR – Get a rating) received a consensus “Buy” recommendation from the eleven analysts who cover the company, reports MarketBeat. Five investment analysts rated the stock with a hold recommendation and five gave the company a buy recommendation. The 12-month average target price among brokerages that have reported on the stock over the past year is $77.10.
TKR has been the subject of a number of recent research reports. StockNews.com moved Timken shares from a “hold” rating to a “buy” rating in a Tuesday, May 3 research report. Goldman Sachs Group lowered its price target on Timken shares from $74.00 to $64.00 and set a “neutral” rating for the company in a Thursday, April 7 research report. Oppenheimer assumed coverage from Timken in a research report on Wednesday, April 13. They set an “outperform” rating and a target price of $75.00 for the company. Evercore ISI upgraded Timken from an “in-line” rating to an “outperforming” rating and set a target price of $78.00 for the company in a Tuesday, February 15 research report. They noted that the move was a review call. Finally, Morgan Stanley cut its price target on Timken from $76.00 to $72.00 and set an “equal weight” rating for the company in a Monday, April 18 research report.
Several hedge funds and other institutional investors have recently increased or reduced their stakes in TKR. TCI Wealth Advisors Inc. increased its stake in Timken shares by 101.7% in the fourth quarter. TCI Wealth Advisors Inc. now owns 361 shares of the industrial products company valued at $25,000 after purchasing an additional 182 shares during the period. CWM LLC acquired a new position in Timken stock in the fourth quarter worth approximately $28,000. Confluence Wealth Services Inc. acquired a new position in Timken stock during the fourth quarter worth $30,000. GPS Wealth Strategies Group LLC acquired a new position in Timken stock during the first quarter worth $30,000. Finally, Covestor Ltd bought a new equity stake in Timken in Q4 valued at around $70,000. 80.18% of the shares are currently held by institutional investors.
Shares of NYSE:TKR traded down $0.71 during Friday’s trading, hitting $57.89. 403,649 shares were traded, against an average volume of 565,683. The company has a current ratio of 2.94, a quick ratio of 1.66 and a debt ratio of 0.74. The stock has a 50-day moving average price of $59.78 and a 200-day moving average price of $65.73. Timken has a 12-month low of $55.32 and a 12-month high of $89.98. The company has a market capitalization of $4.29 billion, a PE ratio of 11.86, a PEG ratio of 0.91 and a beta of 1.56.
Timken (NYSE:TKR- Get a rating) last released its quarterly earnings data on Monday, May 2. The industrial products company reported EPS of $1.61 for the quarter, beating consensus analyst estimates of $1.15 by $0.46. Timken had a return on equity of 15.97% and a net margin of 8.84%. The company posted revenue of $1.12 billion for the quarter, compared to analysts’ estimates of $1.11 billion. During the same period a year earlier, the company posted EPS of $1.38. The company’s revenue for the quarter increased 9.6% year over year. On average, sell-side analysts expect Timken to post earnings per share of 5.3 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2. Shareholders of record on Monday, May 16 will receive a dividend of $0.31. The ex-dividend date is Friday, May 13. This represents a dividend of $1.24 on an annualized basis and a yield of 2.14%. This is a positive change from Timken’s previous quarterly dividend of $0.30. Timken’s dividend payout ratio (DPR) is currently 25.41%.
Timken Company Profile (Get a rating)
The Timken Company designs, manufactures and services engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-road equipment for the agriculture, construction, mining, power equipment markets outdoor and motor sports; and road vehicles, including passenger cars, light trucks and medium and heavy trucks, as well as wagons and locomotives.
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