$361.27 Million in Sales Expected for Barnes Group Inc. (B) This Quarter

Equities analysts expect that Barnes Group Inc. (NYSE:B) will report sales of $361.27 million for the current quarter, Zacks Investment Research reports. Three analysts have made 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 in the same quarter last year, which suggests a positive year-over-year growth rate of 11.4%. The company is expected to announce its next earnings report before the market opens on Friday, February 16th.

According to Zacks, analysts expect that Barnes Group will report full-year sales of $361.27 million for the current fiscal year, with estimates ranging from $1.42 billion to $1.43 billion. For the next year, analysts expect that the business will report sales of $1.50 billion per share, with estimates ranging from $1.49 billion to $1.53 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 posted its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $357.16 million for the quarter, compared to analyst estimates of $351.01 million. Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share.

Several analysts recently issued reports on B shares. SunTrust Banks reiterated a “hold” rating and set a $60.00 target price on shares of Barnes Group in a report on Thursday, October 12th. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Wednesday, January 10th. Robert W. Baird reiterated a “hold” rating and set a $65.00 target price on shares of Barnes Group in a report on Sunday, October 29th. Finally, ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Barnes Group has a consensus rating of “Buy” and a consensus target price of $68.17.

Barnes Group (NYSE B) opened at $67.85 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3,640.00, a PE ratio of 23.89, a PEG ratio of 2.16 and a beta of 1.35. Barnes Group has a 52-week low of $45.47 and a 52-week high of $72.87.

In other Barnes Group news, SVP Christopher J. Stephens sold 15,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $63.53, for a total value of $997,421.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas O. Barnes sold 1,500 shares of the company’s 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. Corporate insiders own 8.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in B. Schwab Charles Investment Management Inc. increased its stake in shares of Barnes Group by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 299,075 shares of the industrial products company’s stock worth $17,505,000 after purchasing an additional 1,514 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Barnes Group by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 188 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Barnes Group during the second quarter worth approximately $109,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Barnes Group during the second quarter worth approximately $340,000. Finally, Schroder Investment Management Group bought a new position in shares of Barnes Group during the second quarter worth approximately $2,479,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.

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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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