Timken Up Sharply In Weak Market (TKR)

Resource from: CBCC Likes:2943

Oct 20,2010

(October 19, 2010 13:25 PM) Timken Company (NYSE: TKR) is up approximately 3% today, despite weakness in U.S. equity markets, caused by missed earnings expectations, and a surprise rate hike from China. TKR has had strong volume today, having traded almost 600,000 shares already today. The average daily volume for TKR is approximately 900,000 shares, and there is just under three hours left to the trading day. TKR is scheduled to report earnings at the end of the month, on October 28. Analysts are looking for earnings of 66 cents per share, on revenues of $1.01 billion for the third quarter. Shares of Timken Company appear to be reasonably priced going into earnings, as the company trades at a forward price-earnings ratio of 13.27, and even boasts a small 52 cent dividend for shareholders. The current yield is 1.3%. The Timken Company manufactures engineered anti-friction bearings and assemblies, alloy steels, aerospace power transmission systems, and related products and services worldwide.

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