Barnes Group Inc. (B) Releases FY14 Earnings Guidance
Barnes Group Inc. (NYSE:B) issued an update on its FY14 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $2.20-2.30 for the period, compared to the Thomson Reuters consensus estimate of $2.26, StockRatingsNetwork.com reports. The company issued revenue guidance of +14-17% to ~$1.24-1.28 billion, compared to the consensus revenue estimate of $1.26 billion.
A number of research firms have recently commented on B. Analysts at Zacks downgraded shares of Barnes Group from an outperform rating to a neutral rating in a research note on Tuesday, February 25th. They now have a $43.00 price target on the stock. On a related note, analysts at Deutsche Bank raised their price target on shares of Barnes Group from $42.00 to $46.00 in a research note on Monday, February 24th. They now have a buy rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Barnes Group to $45.00 in a research note on Monday, February 24th. They now have a buy rating on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Barnes Group has an average rating of Buy and an average target price of $43.25.
Barnes Group Inc. (NYSE:B) opened at 38.91 on Friday. Barnes Group Inc. has a one year low of $26.66 and a one year high of $40.92. The stock has a 50-day moving average of $38.60 and a 200-day moving average of $37.48. The company has a market cap of $2.111 billion and a price-to-earnings ratio of 7.92.
Barnes Group (NYSE:B) last released its earnings data on Friday, April 25th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.52 by $0.02. The company had revenue of $312.00 million for the quarter, compared to the consensus estimate of $306.34 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. Analysts expect that Barnes Group Inc. will post $2.26 EPS for the current fiscal year.
Barnes Group Inc (NYSE:B) is an international aerospace and industrial manufacturer and service provider, serving a range of end markets and customers.
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