Analysts cut Timken earnings estimate

Dec 29, 2008 | 11:16 AM | Scott Robertson

Lower expectations for steel prices and steel demand have prompted leading industry analysts to lower Canton, Ohio-based Timken Co.'s fourth-quarter earnings estimates.

Jeffries & Co. Inc. analysts Yvonne Varano and Chirag Patel said in a research note on Monday that they were maintaining their "Hold" rating on Timken's shares but lowered fourth-quarter 2008 and full-year 2009 earnings estimates for the company based on further degradation in end-markets and weak customer demand.....

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