Barnes Group, Inc. (NYSE:B) to Release Earnings on Friday
Barnes Group, Inc. (NYSE:B) will be releasing its earnings data before the market opens on Friday, July 28th. Analysts expect Barnes Group to post earnings of $0.69 per share for the quarter. Barnes Group has set its FY17 guidance at $2.68-2.78 EPS.
Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, April 28th. The industrial products company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. Barnes Group had a net margin of 11.30% and a return on equity of 12.49%. The company had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $314.81 million. During the same quarter in the previous year, the company earned $0.54 EPS. Barnes Group’s revenue was up 18.6% on a year-over-year basis. On average, analysts expect Barnes Group to post $2.78 EPS for the current fiscal year and $3.00 EPS for the next fiscal year.
Shares of Barnes Group, Inc. (NYSE B) opened at 61.88 on Friday. Barnes Group, Inc. has a 12 month low of $35.96 and a 12 month high of $62.23. The stock’s 50 day moving average is $59.01 and its 200 day moving average is $52.85. The firm has a market cap of $3.32 billion, a PE ratio of 23.35 and a beta of 1.43.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.90%. Barnes Group’s payout ratio is 21.13%.
In related news, Director Hassell H. Mcclellan sold 2,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $56.00, for a total value of $112,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas O. Barnes sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $56.06, for a total value of $56,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,250 shares of company stock worth $1,552,653 over the last quarter. Company insiders own 8.50% of the company’s stock.
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Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $63.00 price objective on shares of Barnes Group in a research report 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 downgraded 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’s stock. The company has a consensus rating of “Buy” and an average price target of $56.00.
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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