NEW YORK (TheStreet) -- Shares of Timken Co. (TKR) are up 1.65% to $67.75 after the company raised its full-year earnings from continuing operations, excluding special items, to be in a range of $2.40 to $2.60 per share, compared to its previous estimate ranging from $2.20 to $2.50 per share, excluding steel operations.
Timken also authorized an additional 10 million share buyback program on Thursday.
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Separately, TheStreet Ratings team rates TIMKEN CO as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIMKEN CO (TKR) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."