One of the recommended uses of the ScheduledExecutorService is as a direct replacement for the Timer class, as discussed in numerous StackOverflow
topics alread
https://docs.oracle.com/javase/7/docs/api/java/util/concurrent/ScheduledExecutorService.html#scheduleAtFixedRate(java.lang.Runnable,%20long,%20long,%20java.util.concurrent.TimeUnit)
Creates and executes a periodic action that becomes enabled first after the given initial delay, and subsequently with the given delay between the termination of one execution and the commencement of the next.
https://docs.oracle.com/javase/7/docs/api/java/util/Timer.html#schedule(java.util.TimerTask,%20long,%20long)
Schedules the specified task for repeated fixed-delay execution, beginning after the specified delay. Subsequent executions take place at approximately regular intervals separated by the specified period.
I would say - Yes ;-)