Barnes Group, Inc. (B) Expected to Announce Quarterly Sales of $361.27 Million
Equities research analysts forecast that Barnes Group, Inc. (NYSE:B) will report sales of $361.27 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Barnes Group’s earnings, with estimates ranging from $357.90 million to $365.00 million. Barnes Group posted sales of $324.17 million during the same quarter last year, which suggests a positive year over year growth rate of 11.4%. The company is scheduled to report its next quarterly earnings report on Friday, February 16th.
On average, analysts expect that Barnes Group will report full-year sales of $361.27 million for the current year, with estimates ranging from $1.42 billion to $1.43 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.51 billion per share, with estimates ranging from $1.49 billion to $1.53 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 announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $357.16 million during the quarter, compared to the consensus estimate of $351.01 million. Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 EPS.
Shares of Barnes Group (NYSE B) traded up $0.29 during trading hours on Thursday, reaching $66.27. The company’s stock had a trading volume of 220,875 shares, compared to its average volume of 224,685. The company has a market capitalization of $3,524.36, a price-to-earnings ratio of 23.07, a P/E/G ratio of 2.30 and a beta of 1.37. The company has a current ratio of 2.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37. Barnes Group has a 1-year low of $45.47 and a 1-year high of $72.87.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.85%. Barnes Group’s dividend payout ratio is presently 19.72%.
In related news, SVP Christopher J. Stephens sold 15,700 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $63.53, for a total transaction of $997,421.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas O. Barnes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.36, for a total value of $99,540.00. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of B. Bank of Montreal Can increased its position in shares of Barnes Group by 1.0% during the second quarter. Bank of Montreal Can now owns 8,204 shares of the industrial products company’s stock valued at $480,000 after acquiring an additional 81 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Barnes Group by 4.6% during the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 85 shares during the last quarter. Aperio Group LLC increased its position in shares of Barnes Group by 7.0% during the second quarter. Aperio Group LLC now owns 22,880 shares of the industrial products company’s stock valued at $1,339,000 after acquiring an additional 1,499 shares during the last quarter. US Bancorp DE increased its position in shares of Barnes Group by 2.7% during the second quarter. US Bancorp DE now owns 27,074 shares of the industrial products company’s stock valued at $1,584,000 after acquiring an additional 712 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Barnes Group by 1.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 13,320 shares of the industrial products company’s stock valued at $780,000 after acquiring an additional 130 shares during the last quarter. 85.97% of the stock is owned by institutional investors.
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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