Barnes Group (B) Set to Announce Earnings on Friday

Barnes Group (NYSE:B) will release its earnings data before the market opens on Friday, April 26th. Analysts expect Barnes Group to post earnings of $0.34 per share for the quarter. Barnes Group has set its FY24 guidance at $1.55-1.80 EPS and its FY 2024 guidance at 1.550-1.800 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Barnes Group (NYSE:B) last issued its earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $415.50 million for the quarter, compared to analyst estimates of $420.47 million. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The business’s revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. On average, analysts expect Barnes Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Barnes Group Stock Performance

Shares of B opened at $36.29 on Wednesday. The firm has a market cap of $1.84 billion, a PE ratio of 117.07, a PEG ratio of 2.12 and a beta of 1.38. The stock’s fifty day moving average price is $36.09 and its two-hundred day moving average price is $31.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.29 and a quick ratio of 1.37. Barnes Group has a 1 year low of $18.79 and a 1 year high of $43.65.

Barnes Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.76%. Barnes Group’s payout ratio is presently 206.46%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on B. Truist Financial boosted their target price on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. StockNews.com upgraded Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th. Oppenheimer boosted their target price on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, DA Davidson upgraded Barnes Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $35.00 to $45.00 in a research note on Thursday, April 18th.

Barnes Group Company Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.