Equities analysts expect that Barnes Group Inc. (NYSE:B) will report sales of $384.02 million for the current quarter, according to Zacks. Four analysts have issued estimates for Barnes Group’s earnings, with the highest sales estimate coming in at $393.20 million and the lowest estimate coming in at $375.17 million. Barnes Group posted sales of $369.80 million in the same quarter last year, which suggests a positive year over year growth rate of 3.8%. The company is scheduled to report its next earnings results on Friday, October 25th.
On average, analysts expect that Barnes Group will report full-year sales of $1.54 billion for the current financial year, with estimates ranging from $1.51 billion to $1.56 billion. For the next year, analysts anticipate that the firm will report sales of $1.58 billion, with estimates ranging from $1.51 billion to $1.62 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Barnes Group.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $371.70 million during the quarter, compared to the consensus estimate of $387.29 million. Barnes Group had a return on equity of 13.20% and a net margin of 9.95%. Barnes Group’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS.
B has been the topic of a number of recent analyst reports. Alembic Global Advisors began coverage on shares of Barnes Group in a report on Friday, May 17th. They issued an “overweight” rating and a $67.00 price target on the stock. Zacks Investment Research lowered shares of Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 target price on the stock. in a research note on Thursday, August 1st. SunTrust Banks lowered shares of Barnes Group from a “hold” rating to a “sell” rating and cut their target price for the company from $53.00 to $48.00 in a research note on Friday, June 14th. UBS Group cut their target price on shares of Barnes Group from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Finally, ValuEngine lowered shares of Barnes Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $60.67.
Barnes Group stock traded down $2.03 during trading hours on Friday, reaching $43.24. The stock had a trading volume of 160,327 shares, compared to its average volume of 202,451. The stock has a market cap of $2.31 billion, a PE ratio of 13.37, a PEG ratio of 2.07 and a beta of 1.40. Barnes Group has a 52 week low of $42.81 and a 52 week high of $72.70. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.13 and a quick ratio of 1.43. The company has a fifty day simple moving average of $50.29 and a 200-day simple moving average of $54.17.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, August 23rd. Barnes Group’s payout ratio is 19.88%.
In related news, Director Mylle H. Mangum sold 1,000 shares of Barnes Group stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total transaction of $51,890.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marian Acker sold 2,274 shares of Barnes Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $45.43, for a total transaction of $103,307.82. The disclosure for this sale can be found here. Insiders own 8.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of B. BlackRock Inc. raised its position in Barnes Group by 1.7% during the 2nd quarter. BlackRock Inc. now owns 7,047,330 shares of the industrial products company’s stock worth $397,045,000 after buying an additional 114,410 shares during the last quarter. Royal Bank of Canada boosted its stake in Barnes Group by 14.6% in the 2nd quarter. Royal Bank of Canada now owns 5,686 shares of the industrial products company’s stock worth $320,000 after buying an additional 725 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Barnes Group by 2.4% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 68,246 shares of the industrial products company’s stock worth $28,769,000 after buying an additional 1,627 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Barnes Group in the 2nd quarter worth about $1,600,000. Finally, Doyle Wealth Management purchased a new position in shares of Barnes Group in the 2nd quarter worth about $28,000. 86.62% of the stock is owned by institutional investors.
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, automation, personal care, packaging, electronics, and medical devices.
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