Revenue Update on Timken Co(NYSE:TKR)

Timken Co(NYSE:TKR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $673.60M. Analysts estimated a revenue of $692.20M. Earnings per share were $0.55. Analysts had estimated an EPS of $0.51.

In a different note, On Jul 11, 2016, Avondale Partners said it Upgrades its rating on Timken Co. The shares have been rated ‘Outperform’ by the firm. Topeka Capital said it Initiates Coverage on Timken Co, according to a research note issued on May 26, 2016. The shares have been rated ‘Hold’ by the firm.

Timken Co (TKR) shares turned negative on Thursdays trading session with the shares closing down -0.06 points or -0.18% at a volume of 6,66,379. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $33.69. The peak price level was also seen at $33.69 while the days lowest was $33.33. Finally the shares closed at $33.36. The 52-week high of the shares is $37.07 while the 52-week low is $22.22. According to the latest information available, the market cap of the company is $2,612 M.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, Jacqueline F Woods (director) sold 2,500 shares at $33.74 per share price.Also, On Dec 2, 2015, William R Burkhart (EVP, GC and Secretary) sold 45 shares at $32.16 per share price.On May 22, 2015, Ward J Jr Timken (director) sold 88,314 shares at $40.62 per share price, according to the Form-4 filing with the securities and exchange commission.

The Timken Company (Timken) engineers manufactures and markets bearings transmissions gearboxes chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries which offers bearings seals lubrication devices and systems as well as power transmission components engineered chain augers and related products and maintenance services and Process Industries which provides industrial bearings and assemblies power transmission components such as gears and gearboxes couplings seals lubricants chains and related products and services. The Company’s industrial brands include Timken Fafnir Philadelphia Gear Drives and Interlube. The Company sells products and services to the following market sectors: industrial equipment construction agriculture rail aerospace and defense automotive heavy truck and energy.

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