Equities analysts predict that Barnes Group Inc. (NYSE:B) will report $380.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Barnes Group’s earnings. The highest sales estimate is $386.00 million and the lowest is $378.60 million. Barnes Group reported sales of $357.16 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.6%. The business is scheduled to report its next quarterly earnings report before the market opens on Friday, October 26th.
On average, analysts expect that Barnes Group will report full year sales of $1.52 billion for the current fiscal year, with estimates ranging from $1.51 billion to $1.52 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.58 billion, with estimates ranging from $1.57 billion to $1.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Barnes Group.
Barnes Group (NYSE:B) last announced its earnings results on Friday, July 27th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.15. Barnes Group had a net margin of 4.39% and a return on equity of 12.69%. The company had revenue of $375.32 million during the quarter, compared to analysts’ expectations of $383.00 million. During the same quarter in the previous year, the business posted $0.81 earnings per share. Barnes Group’s quarterly revenue was up 3.0% on a year-over-year basis.
Several equities analysts have recently issued reports on the company. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. DA Davidson set a $67.00 price target on Barnes Group and gave the company a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Tuesday, July 31st. UBS Group assumed coverage on Barnes Group in a research report on Wednesday, August 15th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Robert W. Baird upped their price objective on Barnes Group from $58.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $72.33.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in B. Tower Research Capital LLC TRC bought a new position in Barnes Group during the second quarter valued at approximately $184,000. Janney Montgomery Scott LLC bought a new position in Barnes Group during the second quarter valued at approximately $226,000. Visionary Asset Management Inc. bought a new position in Barnes Group during the third quarter valued at approximately $227,000. Quantbot Technologies LP boosted its stake in Barnes Group by 234.6% during the first quarter. Quantbot Technologies LP now owns 4,240 shares of the industrial products company’s stock valued at $253,000 after buying an additional 2,973 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Barnes Group during the first quarter valued at approximately $284,000. 84.94% of the stock is owned by hedge funds and other institutional investors.
Shares of B traded down $0.52 during trading hours on Friday, reaching $67.07. The stock had a trading volume of 5,970 shares, compared to its average volume of 220,146. Barnes Group has a 12 month low of $52.42 and a 12 month high of $72.87. The stock has a market cap of $3.64 billion, a P/E ratio of 23.22, a P/E/G ratio of 3.11 and a beta of 1.31. The company has a quick ratio of 1.55, a current ratio of 2.25 and a debt-to-equity ratio of 0.47.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Tuesday, August 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Monday, August 27th. Barnes Group’s dividend payout ratio (DPR) is 22.22%.
Barnes Group Company Profile
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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