Why Timken Stock Is Down Today
Ball bearings and industrial motion equipment manufacturer Timken (NYSE: TKR) missed analyst expectations for the quarter and cut full-year guidance. Investors are disappointed, sending Timken shares down 12% on Thursday morning.
Timken is a world-class operator, but most of its end markets are cyclical, and there is only so much a company can do if its customers are retrenching.
The company earned $2.01 per share in the second quarter on revenue of $1.27 billion, falling short of analysts' expectations for $2.08 per share in earnings on sales of $1.3 billion. That sales figure was up 10% year over year and marked a company record, but was dinged by unfavorable foreign currency exchange rates.
Source Fool.com
Timken Co. Stock
€74.50
-1.320%
We see a rather positive sentiment for Timken Co. with 10 Buy predictions and 1 Sell predictions.
With a target price of 88 € there is a slightly positive potential of 18.12% for Timken Co. compared to the current price of 74.5 €.
