Timken (NYSE:TKR) Posts Earnings Results, Misses Estimates By $0.15 EPS

Timken (NYSE:TKR) released its quarterly earnings results on Tuesday. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15), Briefing.com reports. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 earnings per share. Timken updated its FY 2024 guidance to 5.550-5.650 EPS and its FY24 guidance to $5.55-5.65 EPS.

Timken Stock Performance

Timken stock opened at $76.99 on Friday. The company has a quick ratio of 1.64, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $5.40 billion, a PE ratio of 16.01, a P/E/G ratio of 1.94 and a beta of 1.43. The firm has a fifty day simple moving average of $82.56 and a two-hundred day simple moving average of $83.82. Timken has a twelve month low of $70.15 and a twelve month high of $94.71.

Wall Street Analyst Weigh In

TKR has been the subject of a number of recent analyst reports. Evercore ISI reduced their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. DA Davidson dropped their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday. KeyCorp dropped their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Oppenheimer dropped their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.60.

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.