Wall Street analysts expect Barnes Group Inc. (NYSE:B) to post earnings of $0.82 per share for the current quarter, according to Zacks. Four analysts have made estimates for Barnes Group’s earnings, with estimates ranging from $0.79 to $0.84. Barnes Group posted earnings per share of $0.66 in the same quarter last year, which suggests a positive year-over-year growth rate of 24.2%. The firm is scheduled to report its next quarterly earnings results on Friday, October 26th.
According to Zacks, analysts expect that Barnes Group will report full year earnings of $3.26 per share for the current year, with EPS estimates ranging from $3.24 to $3.28. For the next financial year, analysts expect that the firm will report earnings of $3.51 per share, with EPS estimates ranging from $3.44 to $3.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Barnes Group.
Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 27th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.15. The company had revenue of $375.32 million for the quarter, compared to analysts’ expectations of $383.00 million. Barnes Group had a net margin of 4.39% and a return on equity of 12.69%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS.
A number of equities analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Barnes Group in a research report on Wednesday, August 15th. They set a “buy” rating and a $80.00 price objective on the stock. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Tuesday, July 31st. DA Davidson set a $67.00 price objective on shares of Barnes Group and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Robert W. Baird upped their target price on shares of Barnes Group from $58.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Finally, ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $70.33.
Shares of B stock traded up $0.29 on Thursday, reaching $68.18. 124,200 shares of the company were exchanged, compared to its average volume of 220,835. The stock has a market capitalization of $3.48 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 5.22 and a beta of 1.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.55. Barnes Group has a one year low of $52.42 and a one year high of $72.87.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Tuesday, August 28th will be issued a $0.16 dividend. The ex-dividend date is Monday, August 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.94%. Barnes Group’s dividend payout ratio is presently 22.22%.
Several institutional investors and hedge funds have recently bought and sold shares of B. BlackRock Inc. increased its stake in Barnes Group by 6.3% in the 2nd quarter. BlackRock Inc. now owns 6,826,299 shares of the industrial products company’s stock valued at $402,068,000 after buying an additional 406,101 shares during the last quarter. Wasatch Advisors Inc. increased its stake in Barnes Group by 16.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,534,284 shares of the industrial products company’s stock valued at $149,269,000 after buying an additional 361,193 shares during the last quarter. Macquarie Group Ltd. increased its stake in Barnes Group by 4.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,865,556 shares of the industrial products company’s stock valued at $109,881,000 after buying an additional 83,240 shares during the last quarter. Janus Henderson Group PLC increased its stake in Barnes Group by 4.9% in the 2nd quarter. Janus Henderson Group PLC now owns 553,802 shares of the industrial products company’s stock valued at $32,619,000 after buying an additional 26,044 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Barnes Group by 0.6% in the 2nd quarter. Victory Capital Management Inc. now owns 471,373 shares of the industrial products company’s stock valued at $27,764,000 after buying an additional 2,852 shares during the last quarter. Institutional investors own 86.00% of the company’s stock.
Barnes Group Company Profile
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.
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