$337.79 Million in Sales Expected for Barnes Group, Inc. (B) This Quarter
Equities analysts forecast that Barnes Group, Inc. (NYSE:B) will announce $337.79 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Barnes Group’s earnings, with the lowest sales estimate coming in at $333.67 million and the highest estimate coming in at $344.10 million. Barnes Group posted sales of $306.69 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.1%. The company is scheduled to report its next quarterly earnings results before the market opens on Friday, July 28th.
According to Zacks, analysts expect that Barnes Group will report full-year sales of $337.79 million for the current financial year, with estimates ranging from $1.33 billion to $1.35 billion. For the next fiscal year, analysts expect that the company will report sales of $1.40 billion per share, with estimates ranging from $1.38 billion to $1.43 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Barnes Group.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, April 28th. The industrial products company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $341.80 million for the quarter, compared to the consensus estimate of $314.81 million. Barnes Group had a net margin of 11.30% and a return on equity of 12.49%. Barnes Group’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS.
B has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Wednesday, May 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $63.00 price target on shares of Barnes Group in a research note on Tuesday, May 2nd. ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Sidoti lowered shares of Barnes Group from a “buy” rating to a “neutral” rating in a research report on Monday, April 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.00.
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In related news, Director Hassell H. Mcclellan sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $56.00, for a total transaction of $112,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas O. Barnes sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $56.06, for a total transaction of $56,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,250 shares of company stock worth $1,552,653. 8.50% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in B. BlackRock Inc. increased its stake in shares of Barnes Group by 40,783.4% in the first quarter. BlackRock Inc. now owns 6,069,547 shares of the industrial products company’s stock worth $311,610,000 after buying an additional 6,054,701 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Barnes Group by 0.4% in the first quarter. Bank of America Corp DE now owns 5,487,280 shares of the industrial products company’s stock worth $281,717,000 after buying an additional 23,017 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Barnes Group by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,532,470 shares of the industrial products company’s stock worth $232,698,000 after buying an additional 235,065 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Barnes Group by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,526,503 shares of the industrial products company’s stock worth $181,050,000 after buying an additional 19,233 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Barnes Group by 0.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,750,602 shares of the industrial products company’s stock worth $83,014,000 after buying an additional 9,047 shares during the last quarter. 85.71% of the stock is currently owned by institutional investors and hedge funds.
Barnes Group (NYSE:B) traded up 0.50% on Friday, hitting $58.49. 18,444 shares of the stock were exchanged. The stock has a market capitalization of $3.14 billion, a P/E ratio of 22.07 and a beta of 1.42. The company has a 50 day moving average of $57.31 and a 200 day moving average of $51.68. Barnes Group has a one year low of $32.55 and a one year high of $60.74.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Thursday, May 25th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Barnes Group’s previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, May 23rd. Barnes Group’s dividend payout ratio (DPR) is currently 21.13%.
Barnes Group Company Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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