Equities analysts predict that Barnes Group Inc. (NYSE:B) will report $384.02 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 $393.20 million and the lowest is $375.17 million. Barnes Group reported sales of $369.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The business is scheduled to report its next quarterly earnings report on Friday, October 25th.
On average, analysts expect that Barnes Group will report full year sales of $1.54 billion for the current fiscal year, with estimates ranging from $1.51 billion to $1.56 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.58 billion, with estimates ranging from $1.51 billion to $1.62 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 released its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.03). Barnes Group had a return on equity of 13.20% and a net margin of 9.95%. The company had revenue of $371.70 million for the quarter, compared to the consensus estimate of $387.29 million. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year.
A number of research firms have commented on B. ValuEngine raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research cut shares of Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price objective for the company. in a research report on Thursday, August 1st. UBS Group reduced their price objective on shares of Barnes Group from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Alembic Global Advisors began coverage on shares of Barnes Group in a research report on Friday, May 17th. They set an “overweight” rating and a $67.00 price objective for the company. Finally, SunTrust Banks cut shares of Barnes Group from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $53.00 to $48.00 in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Barnes Group has a consensus rating of “Hold” and a consensus price target of $60.67.
B stock traded up $2.42 during midday trading on Monday, reaching $55.19. 447,218 shares of the company were exchanged, compared to its average volume of 207,609. 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 business has a 50-day moving average price of $46.76 and a two-hundred day moving average price of $52.65. Barnes Group has a one year low of $42.39 and a one year high of $72.70. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.38 and a beta of 1.46.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Barnes Group’s payout ratio is presently 19.88%.
In other news, VP Marian Acker sold 2,274 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $45.43, for a total value of $103,307.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mylle H. Mangum sold 1,000 shares of the business’s 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 disclosure for this sale can be found here. In the last three months, insiders sold 3,739 shares of company stock valued at $175,263. 8.35% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Champlain Investment Partners LLC raised its stake in Barnes Group by 50.4% in the first quarter. Champlain Investment Partners LLC now owns 1,276,260 shares of the industrial products company’s stock valued at $65,613,000 after purchasing an additional 427,895 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Barnes Group in the second quarter valued at about $20,308,000. Invesco Ltd. raised its stake in Barnes Group by 328.6% in the second quarter. Invesco Ltd. now owns 333,945 shares of the industrial products company’s stock valued at $18,814,000 after purchasing an additional 256,029 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in Barnes Group by 108.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 228,520 shares of the industrial products company’s stock valued at $12,874,000 after purchasing an additional 118,657 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Barnes Group by 1.7% in the second quarter. BlackRock Inc. now owns 7,047,330 shares of the industrial products company’s stock valued at $397,045,000 after purchasing an additional 114,410 shares in the last quarter. 85.86% 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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