Analysts expect Barnes Group, Inc. (NYSE:B) to report sales of $351.30 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Barnes Group’s earnings. The highest sales estimate is $354.60 million and the lowest is $349.70 million. Barnes Group reported sales of $311.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.8%. The company is scheduled to issue its next quarterly earnings results on Friday, October 27th.
On average, analysts expect that Barnes Group will report full year sales of $351.30 million for the current year, with estimates ranging from $1.40 billion to $1.41 billion. For the next fiscal year, analysts expect that the company will report sales of $1.47 billion per share, with estimates ranging from $1.46 billion to $1.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Barnes Group.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The firm had revenue of $364.49 million during the quarter, compared to the consensus estimate of $337.69 million. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year.
A number of equities research analysts have weighed in on B shares. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday, May 22nd. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $66.00 price objective on shares of Barnes Group in a research note on Thursday, June 8th. BidaskClub lowered Barnes Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. raised their price objective on Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $62.60.
Shares of Barnes Group (NYSE:B) opened at 67.11 on Tuesday. The stock has a market cap of $3.61 billion, a PE ratio of 23.47 and a beta of 1.43. Barnes Group has a 52 week low of $37.88 and a 52 week high of $67.32. The firm has a 50-day moving average price of $61.51 and a 200-day moving average price of $56.71.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 24th were given a $0.14 dividend. The ex-dividend date was Tuesday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.83%. Barnes Group’s payout ratio is 19.58%.
In other news, Director Thomas O. Barnes sold 2,000 shares of Barnes Group stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total value of $119,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marian Acker sold 6,000 shares of Barnes Group stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total value of $362,280.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,755 shares of company stock valued at $528,361. Insiders own 8.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of B. BlackRock Inc. boosted its position in Barnes Group by 40,783.4% during the 1st quarter. BlackRock Inc. now owns 6,069,547 shares of the industrial products company’s stock valued at $311,610,000 after purchasing an additional 6,054,701 shares during the period. Wasatch Advisors Inc. acquired a new position in Barnes Group during the 2nd quarter valued at approximately $35,388,000. Koch Industries Inc. acquired a new position in Barnes Group during the 2nd quarter valued at approximately $350,000. Vanguard Group Inc. boosted its position in Barnes Group by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 4,532,470 shares of the industrial products company’s stock valued at $232,698,000 after purchasing an additional 235,065 shares during the period. Finally, Stifel Financial Corp acquired a new position in Barnes Group during the 1st quarter valued at approximately $9,198,000. Institutional investors own 85.08% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Barnes Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.