The Timken Company (NYSE:TKR) Given Consensus Recommendation of “Hold” by Brokerages

The Timken Company (NYSE:TKR) has received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $89.60.

Several brokerages have recently issued reports on TKR. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI lowered their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. DA Davidson dropped their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. KeyCorp reduced their price target on Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock.

Institutional Investors Weigh In On Timken

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares during the period. Interval Partners LP acquired a new position in Timken during the first quarter worth $22,907,000. American Century Companies Inc. grew its position in Timken by 4.8% in the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after buying an additional 107,350 shares during the last quarter. Finally, Kodai Capital Management LP bought a new stake in Timken during the 1st quarter worth about $9,130,000. 89.08% of the stock is owned by institutional investors.

Timken Stock Performance

Shares of Timken stock opened at $76.52 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.64. The firm has a 50 day simple moving average of $82.25 and a 200 day simple moving average of $83.67. Timken has a fifty-two week low of $70.15 and a fifty-two week high of $94.71. The firm has a market cap of $5.37 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.14 and a beta of 1.43.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 EPS. Sell-side analysts predict that Timken will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.78%. Timken’s dividend payout ratio (DPR) is currently 28.27%.

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.