$351.30 Million in Sales Expected for Barnes Group, Inc. (B) This Quarter

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%.

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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.

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Earnings History and Estimates for Barnes Group (NYSE:B)

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