Barnes Group, Inc. (B) Set to Announce Earnings on Thursday
Barnes Group, Inc. (NYSE:B) will post its quarterly earnings results before the market opens on Thursday, October 26th. Analysts expect Barnes Group to post earnings of $0.69 per share for the quarter. Barnes Group has set its FY17 guidance at $2.80-2.90 EPS.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $364.49 million during the quarter, compared to analysts’ expectations of $337.69 million. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. On average, analysts expect Barnes Group to post $2.90 EPS for the current fiscal year and $3.07 EPS for the next fiscal year.
Shares of Barnes Group, Inc. (NYSE:B) opened at 72.44 on Thursday. The stock has a 50 day moving average price of $67.97 and a 200 day moving average price of $59.86. The firm has a market capitalization of $3.90 billion, a PE ratio of 25.33 and a beta of 1.45. Barnes Group, Inc. has a 12-month low of $37.95 and a 12-month high of $73.84.
B has been the subject of a number of research analyst reports. SunTrust Banks, Inc. restated a “hold” rating and issued a $60.00 target price on shares of Barnes Group in a research report on Thursday, October 12th. ValuEngine downgraded Barnes Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Deutsche Bank AG upped their target price on Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. BidaskClub upgraded Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. upped their target price on Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Barnes Group has a consensus rating of “Buy” and an average target price of $65.75.
In other news, Director Thomas O. Barnes sold 755 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $61.22, for a total transaction of $46,221.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Marian Acker sold 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total value of $362,280.00. The disclosure for this sale can be found here. Insiders sold 8,755 shares of company stock valued at $528,361 over the last 90 days. 8.50% of the stock is currently owned by insiders.
About Barnes Group
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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