Wall Street analysts predict that Barnes Group Inc. (NYSE:B) will announce sales of $389.48 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Barnes Group’s earnings. The lowest sales estimate is $385.10 million and the highest is $396.40 million. Barnes Group reported sales of $373.05 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.4%. The business is expected to announce its next earnings results on Friday, February 15th.
On average, analysts expect that Barnes Group will report full-year sales of $1.50 billion for the current fiscal year, with estimates ranging from $1.50 billion to $1.51 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.60 billion, with estimates ranging from $1.59 billion to $1.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Barnes Group.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, October 26th. The industrial products company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The company had revenue of $369.80 million for the quarter, compared to the consensus estimate of $379.27 million. Barnes Group had a return on equity of 13.39% and a net margin of 4.60%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share.
B has been the topic of a number of research analyst reports. Oppenheimer boosted their target price on Barnes Group from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 25th. ValuEngine downgraded Barnes Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. UBS Group initiated coverage on Barnes Group in a research note on Wednesday, August 15th. They issued a “buy” rating and a $80.00 target price on the stock. Zacks Investment Research downgraded Barnes Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, DA Davidson set a $66.00 target price on Barnes Group and gave the stock a “hold” rating in a research note on Monday, November 19th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $71.83.
Shares of B opened at $54.50 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.27 and a quick ratio of 1.50. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 2.47 and a beta of 1.53. Barnes Group has a 52 week low of $52.42 and a 52 week high of $72.70.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 27th will be paid a $0.16 dividend. The ex-dividend date is Monday, November 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. Barnes Group’s payout ratio is presently 22.22%.
In related news, Director Thomas O. Barnes sold 770 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $59.28, for a total value of $45,645.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Hassell H. Mcclellan sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $58.25, for a total value of $81,550.00. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank purchased a new position in Barnes Group in the third quarter valued at approximately $167,000. Tower Research Capital LLC TRC purchased a new stake in shares of Barnes Group during the second quarter worth $184,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Barnes Group during the third quarter worth $216,000. Janney Montgomery Scott LLC purchased a new stake in shares of Barnes Group during the second quarter worth $226,000. Finally, Visionary Asset Management Inc. purchased a new stake in shares of Barnes Group during the third quarter worth $227,000. Institutional investors and hedge funds own 85.63% of the company’s stock.
About Barnes Group
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.
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