Barnes Group Inc. (B) Expected to Announce Earnings of $0.81 Per Share

Brokerages expect Barnes Group Inc. (NYSE:B) to report earnings per share (EPS) of $0.81 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Barnes Group’s earnings. The lowest EPS estimate is $0.79 and the highest is $0.84. Barnes Group reported earnings of $0.66 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 22.7%. The firm is expected to announce its next earnings results before the market opens on Friday, October 26th.

On average, analysts expect that Barnes Group will report full year earnings of $3.25 per share for the current financial year, with EPS estimates ranging from $3.24 to $3.28. For the next fiscal year, analysts forecast that the firm will report earnings of $3.50 per share, with EPS estimates ranging from $3.44 to $3.60. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Barnes Group.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 27th. The industrial products company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.75 by $0.15. The company had revenue of $375.32 million during the quarter, compared to analysts’ expectations of $383.00 million. Barnes Group had a return on equity of 12.69% and a net margin of 4.39%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS.

A number of brokerages have recently issued reports on B. Zacks Investment Research cut Barnes Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. SunTrust Banks reiterated a “hold” rating and set a $63.00 target price on shares of Barnes Group in a report on Friday, July 27th. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. Robert W. Baird boosted their target price on Barnes Group from $58.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Finally, DA Davidson set a $67.00 target price on Barnes Group and gave the stock a “hold” rating in a report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Barnes Group presently has an average rating of “Hold” and an average price target of $72.33.

Institutional investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank acquired a new position in Barnes Group during the 3rd quarter worth approximately $167,000. Tower Research Capital LLC TRC acquired a new position in Barnes Group during the 2nd quarter worth approximately $184,000. Janney Montgomery Scott LLC acquired a new position in Barnes Group during the 2nd quarter worth approximately $226,000. Visionary Asset Management Inc. acquired a new position in Barnes Group during the 3rd quarter worth approximately $227,000. Finally, Jane Street Group LLC acquired a new position in Barnes Group during the 1st quarter worth approximately $284,000. 84.95% of the stock is currently owned by hedge funds and other institutional investors.

B opened at $60.73 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.55. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.74 and a beta of 1.31. Barnes Group has a 12 month low of $52.42 and a 12 month high of $72.86.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 27th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 26th. Barnes Group’s payout ratio is currently 22.22%.

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, consumer products, packaging, electronics, medical devices, and energy.

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