Wall Street brokerages forecast that Barnes Group Inc. (NYSE:B) will report earnings per share of $0.67 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Barnes Group’s earnings. The lowest EPS estimate is $0.66 and the highest is $0.68. Barnes Group reported earnings of $0.71 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 5.6%. The business is expected to issue its next quarterly earnings report on Friday, April 27th.
According to Zacks, analysts expect that Barnes Group will report full year earnings of $3.07 per share for the current fiscal year, with EPS estimates ranging from $3.05 to $3.10. For the next financial year, analysts anticipate that the firm will report earnings of $3.40 per share, with EPS estimates ranging from $3.32 to $3.45. Zacks’ EPS averages 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 earnings results on Friday, February 16th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $373.00 million during the quarter, compared to analyst estimates of $357.77 million. Barnes Group had a net margin of 4.15% and a return on equity of 12.36%. Barnes Group’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS.
Several equities analysts have recently weighed in on B shares. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. SunTrust Banks restated a “hold” rating and set a $67.00 price objective on shares of Barnes Group in a research report on Tuesday, January 9th. Finally, Zacks Investment Research lowered shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $68.17.
Shares of Barnes Group (NYSE:B) traded up $0.07 on Friday, reaching $61.76. 49,254 shares of the company were exchanged, compared to its average volume of 212,262. The company has a market cap of $3,337.80, a price-to-earnings ratio of 57.79, a PEG ratio of 2.04 and a beta of 1.36. The company has a quick ratio of 1.67, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. Barnes Group has a 12-month low of $48.21 and a 12-month high of $72.87.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were given a dividend of $0.14 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. Barnes Group’s dividend payout ratio (DPR) is 52.34%.
In other news, Director Richard J. Hipple bought 1,300 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $62.06 per share, for a total transaction of $80,678.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marian Acker sold 7,860 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $63.12, for a total transaction of $496,123.20. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in B. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Barnes Group by 156.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,202 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 1,342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Barnes Group by 47.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,095 shares of the industrial products company’s stock worth $196,000 after acquiring an additional 1,003 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Barnes Group by 2,284.0% in the fourth quarter. Bessemer Group Inc. now owns 3,123 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 2,992 shares during the last quarter. Visionary Asset Management Inc. acquired a new stake in shares of Barnes Group in the third quarter worth $216,000. Finally, Virtu Financial LLC acquired a new stake in shares of Barnes Group in the fourth quarter worth $222,000. Institutional investors own 87.86% 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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