Research Analysts Offer Predictions for Barnes Group, Inc.’s FY2017 Earnings (B)
Barnes Group, Inc. (NYSE:B) – Equities researchers at Oppenheimer Holdings raised their FY2017 earnings per share estimates for Barnes Group in a research note issued on Friday. Oppenheimer Holdings analyst C. Glynn now forecasts that the industrial products company will post earnings per share of $2.86 for the year, up from their previous estimate of $2.85. Oppenheimer Holdings currently has a “Outperform” rating and a $67.00 price target on the stock. Oppenheimer Holdings also issued estimates for Barnes Group’s Q4 2017 earnings at $0.68 EPS, Q1 2018 earnings at $0.67 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.78 EPS and Q4 2018 earnings at $0.81 EPS.
Barnes Group (NYSE:B) last posted its earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The company had revenue of $357.16 million during the quarter, compared to analysts’ expectations of $351.01 million. During the same period in the previous year, the company posted $0.71 EPS. Barnes Group’s quarterly revenue was up 14.6% compared to the same quarter last year.
A number of other brokerages have also issued reports on B. ValuEngine downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. SunTrust Banks, Inc. restated a “hold” rating and set a $60.00 price target on shares of Barnes Group in a report on Thursday, October 12th. Robert W. Baird restated a “hold” rating and set a $65.00 price target on shares of Barnes Group in a report on Sunday. Deutsche Bank AG raised their price target on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 8th. Finally, BidaskClub upgraded shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Barnes Group currently has a consensus rating of “Buy” and an average price target of $65.60.
Shares of Barnes Group (B) opened at 66.91 on Monday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 23.40 and a beta of 1.44. The stock’s 50 day moving average price is $69.53 and its 200-day moving average price is $60.81. Barnes Group has a 12-month low of $37.95 and a 12-month high of $72.87.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.56 annualized dividend and a dividend yield of 0.84%. Barnes Group’s payout ratio is 19.72%.
In other Barnes Group news, Director Thomas O. Barnes sold 755 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $61.22, for a total value of $46,221.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total transaction of $362,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,755 shares of company stock worth $528,361. Insiders own 8.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in B. BlackRock Inc. lifted its position in shares of Barnes Group by 40,783.4% during the first quarter. BlackRock Inc. now owns 6,069,547 shares of the industrial products company’s stock worth $311,610,000 after purchasing an additional 6,054,701 shares in the last quarter. Wasatch Advisors Inc. acquired a new position in shares of Barnes Group during the second quarter worth approximately $35,388,000. Koch Industries Inc. acquired a new position in shares of Barnes Group during the second quarter worth approximately $350,000. Vanguard Group Inc. lifted its position in shares of Barnes Group by 5.5% during the first quarter. Vanguard Group Inc. now owns 4,532,470 shares of the industrial products company’s stock worth $232,698,000 after purchasing an additional 235,065 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Barnes Group by 6.3% during the second quarter. Northern Trust Corp now owns 1,664,281 shares of the industrial products company’s stock worth $97,410,000 after purchasing an additional 98,189 shares in the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.
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.
Receive News & Ratings for Barnes Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.