Barnes Group, Inc. (B) Expected to Post Quarterly Sales of $337.79 Million
Equities research analysts predict that Barnes Group, Inc. (NYSE:B) will post $337.79 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Barnes Group’s earnings, with estimates ranging from $333.67 million to $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 business is expected to issue its next 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 business will post sales of $1.40 billion per share, with estimates ranging from $1.38 billion to $1.43 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 issued its quarterly earnings data 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 firm had revenue of $341.80 million for the quarter, compared to analyst estimates of $314.81 million. During the same period in the prior year, the business posted $0.54 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year.
B has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Friday, May 19th. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Jefferies Group LLC boosted their target price on shares of Barnes Group from $46.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 4th. Finally, Sidoti downgraded shares of Barnes Group from a “buy” rating to a “neutral” rating in a report on Monday, April 24th. 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 presently has an average rating of “Buy” and a consensus target price of $56.00.
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In other news, SVP Christopher J. Stephens sold 13,600 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $54.88, for a total transaction of $746,368.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mylle H. Mangum sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $53.91, for a total transaction of $161,730.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,250 shares of company stock valued at $1,552,653. 8.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after buying an additional 85 shares in the last quarter. Fruth Investment Management bought a new stake in Barnes Group during the first quarter valued at about $205,000. Teacher Retirement System of Texas bought a new stake in Barnes Group during the first quarter valued at about $209,000. Verity Asset Management Inc. bought a new stake in Barnes Group during the first quarter valued at about $215,000. Finally, Dubuque Bank & Trust Co. bought a new stake in Barnes Group during the first quarter valued at about $216,000. 85.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Barnes Group (NYSE B) opened at 60.27 on Wednesday. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 22.74 and a beta of 1.43. Barnes Group has a 12-month low of $36.19 and a 12-month high of $62.23. The firm’s 50-day moving average is $59.16 and its 200-day moving average is $53.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.93%. Barnes Group’s dividend payout ratio 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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