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2 pages/≈550 words
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Style:
APA
Subject:
Business & Marketing
Type:
Case Study
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English (U.S.)
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Topic:

Timken Company (TKR) and the Models it Uses in Performance Evaluation

Case Study Instructions:

Semester-end Project: Equity Valuation The “final exam” for FIN5203 will be a short project. I have assigned each student a stock to analyze and write a short equity research report (sometimes called a “bulletin”). This report should contain most of the basic features of a full equity research report: 1. Summary of investment conclusions and recommendations, including a 1-year price target for the company 2. Brief description of the company’s business and industry 3. Summary of the company’s cost of equity, cost of debt, and WACC. You can use the Mercer CMO forecasts for the expected return of the market and the risk-free rate. You can use Bloomberg’s estimate of the company’s beta. 4. Two different valuation models: DDM and FCFF 5. At least two relative valuation models 6. A brief discussion of whether the company is an attractive takeover target Additional notes:  You can find the stock you have been assigned on moodle.  Summarize your research in a 1-page document (you can add more pages in an appendix if you want)  Do not include formulas  Don’t worry about the format of the report. Make it easy to read, but no need to do any fancy graphics. I’m just interested in the results.  Upload the completed report to Moodle by noon on Saturday December 5.  This is an individual project. You may not speak to anyone except for me and Lawrence Lawson about this project. You may use online resources such as Bloomberg and internet web sites to research your company.

Case Study Sample Content Preview:

Timken UN Equity Company
Name
Date
Timken UN Equity Company
Despite the challenging condition of the market, Timken has had a productive year that engaged the customers in deploying impactful solutions, deepen and expand the relationship with the market, and transformation and growth initiatives. During the 2019-2020 financial year, the company has continued to be debt-free and generated enough cash flows needed to meet the company's working capital needs. The company has had a significant share in the movement of price during recent months. The sharing movement gives the investors to enter the stock market and buy at a lower price. Since the company is not much valued, investors can accumulate more of their stock earnings (Timken et al., 2020). According to the analysts' consensus price target that is $75, Timken Company has forecasted an upside of approximately 2% from its current price that retails at $73.56. The companies high is forecasted to be $87 and a low of $64, representing an increase in the price target by approximately 5.96%.
Timken Company (TKR) is a global industrial leader who majors in manufacturing bearings and related assemblies and components. Over the years, Timken was also manufacturing steel, majoring in steel tube alloys, but it was spun off in 2014. With more than a century of innovation and knowledge, the company has continuously improved the efficiency and reliability of industries that aid in moving the world. Timken Company, however, expanded its product portfolio through acquisitions and reputation by providing solutions for problems. Currently, Timken is focusing on expanding its operation across the global operation. The company is in the manufacturing industry, but its products are used in industries including ...
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