Equities analysts expect Barnes Group Inc. (NYSE:B) to report $390.71 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Barnes Group’s earnings. The lowest sales estimate is $383.34 million and the highest is $400.80 million. Barnes Group posted sales of $384.12 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The company is expected to issue its next quarterly earnings report on Friday, October 25th.
On average, analysts expect that Barnes Group will report full-year sales of $1.51 billion for the current year, with estimates ranging from $1.50 billion to $1.53 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.55 billion, with estimates ranging from $1.50 billion to $1.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Barnes Group.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, October 25th. The industrial products company reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. The company had revenue of $372.60 million during the quarter, compared to analysts’ expectations of $377.42 million. Barnes Group had a net margin of 9.95% and a return on equity of 13.20%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share.
B has been the subject of a number of research analyst reports. SunTrust Banks restated a “sell” rating and set a $49.00 price objective on shares of Barnes Group in a research report on Monday. UBS Group reduced their target price 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. Zacks Investment Research cut shares of Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 target price for the company. in a research report on Thursday, August 1st. ValuEngine raised shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Oppenheimer set a $65.00 price objective on shares of Barnes Group and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.00.
NYSE:B traded down $2.46 during trading hours on Friday, reaching $56.98. 619,052 shares of the company were exchanged, compared to its average volume of 215,496. The company has a current ratio of 2.13, a quick ratio of 1.43 and a debt-to-equity ratio of 0.73. The stock’s 50-day moving average is $51.82 and its 200-day moving average is $52.10. The firm has a market cap of $2.67 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.45. Barnes Group has a twelve month low of $42.39 and a twelve month high of $61.98.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Monday, November 25th. Barnes Group’s dividend payout ratio (DPR) is presently 19.88%.
In other news, VP Marian Acker sold 2,274 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $45.43, for a total value of $103,307.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mylle H. Mangum sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 ninety days, insiders have sold 8,757 shares of company stock valued at $445,632. 8.35% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC acquired a new stake in Barnes Group in the second quarter valued at approximately $20,308,000. Invesco Ltd. raised its holdings 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 acquiring an additional 256,029 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings 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 acquiring an additional 118,657 shares in the last quarter. BlackRock Inc. raised its holdings 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 acquiring an additional 114,410 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Barnes Group by 43.8% in the second quarter. Morgan Stanley now owns 310,484 shares of the industrial products company’s stock valued at $17,492,000 after acquiring an additional 94,620 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.
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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