Equities research analysts predict that Barnes Group Inc. (NYSE:B) will post $386.80 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Barnes Group’s earnings, with estimates ranging from $377.70 million to $392.70 million. Barnes Group posted sales of $366.66 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.5%. The business is expected to issue its next earnings results on Friday, February 22nd.
According to Zacks, analysts expect that Barnes Group will report full-year sales of $1.58 billion for the current financial year, with estimates ranging from $1.56 billion to $1.61 billion. For the next fiscal year, analysts expect that the business will post sales of $1.64 billion, with estimates ranging from $1.62 billion to $1.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Barnes Group.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, February 22nd. The industrial products company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $384.10 million during the quarter, compared to analyst estimates of $391.37 million. Barnes Group had a net margin of 4.60% and a return on equity of 13.39%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share.
B has been the subject of a number of recent analyst reports. Sidoti upgraded shares of Barnes Group from a “neutral” rating to a “buy” rating in a report on Wednesday, January 2nd. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Friday, December 28th. DA Davidson set a $66.00 target price on shares of Barnes Group and gave the stock a “hold” rating in a report on Monday, November 19th. Finally, SunTrust Banks dropped their target price on shares of Barnes Group from $63.00 to $61.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.17.
Shares of NYSE:B traded down $0.47 during trading on Friday, reaching $60.69. The stock had a trading volume of 360,813 shares, compared to its average volume of 150,602. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.27 and a quick ratio of 1.50. The firm has a market cap of $3.11 billion, a PE ratio of 21.07, a P/E/G ratio of 2.52 and a beta of 1.48. Barnes Group has a fifty-two week low of $49.06 and a fifty-two week high of $72.70.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Monday, February 25th will be given a $0.16 dividend. The ex-dividend date is Friday, February 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. Barnes Group’s dividend payout ratio is presently 22.22%.
In other news, Director Thomas O. Barnes sold 770 shares of the firm’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $59.28, for a total transaction of $45,645.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hassell H. Mcclellan sold 1,400 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $58.25, for a total transaction of $81,550.00. The disclosure for this sale can be found here. Corporate insiders own 7.93% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Doyle Wealth Management purchased a new stake in shares of Barnes Group in the fourth quarter worth approximately $26,000. Private Capital Group LLC lifted its position in shares of Barnes Group by 213.2% in the fourth quarter. Private Capital Group LLC now owns 758 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 516 shares in the last quarter. KBC Group NV purchased a new stake in shares of Barnes Group in the fourth quarter worth approximately $44,000. Nisa Investment Advisors LLC lifted its position in shares of Barnes Group by 269.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 960 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 700 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Barnes Group by 15.1% in the fourth quarter. AdvisorNet Financial Inc now owns 1,387 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.
About Barnes Group
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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