Zacks: Analysts Anticipate Barnes Group Inc. (B) Will Post Earnings of $0.75 Per Share
Wall Street brokerages forecast that Barnes Group Inc. (NYSE:B) will post earnings per share of $0.75 for the current quarter, according to Zacks. Four analysts have made estimates for Barnes Group’s earnings. The highest EPS estimate is $0.77 and the lowest is $0.74. Barnes Group posted earnings per share of $0.81 in the same quarter last year, which suggests a negative year-over-year growth rate of 7.4%. The company is scheduled to announce its next quarterly earnings results on Friday, July 27th.
On average, analysts expect that Barnes Group will report full-year earnings of $3.10 per share for the current fiscal year, with EPS estimates ranging from $3.08 to $3.12. For the next financial year, analysts expect that the firm will report earnings of $3.40 per share, with EPS estimates ranging from $3.30 to $3.46. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Barnes Group.
Barnes Group (NYSE:B) last released its earnings results on Friday, April 27th. The industrial products company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The firm had revenue of $366.70 million for the quarter, compared to analysts’ expectations of $362.71 million. Barnes Group had a net margin of 4.12% and a return on equity of 12.17%. Barnes Group’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS.
In other Barnes Group news, Director Richard J. Hipple acquired 500 shares of the stock in a transaction dated Friday, May 4th. The shares were bought at an average price of $53.55 per share, with a total value of $26,775.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas O. Barnes sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $59.14, for a total transaction of $118,280.00. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in B. BlackRock Inc. boosted its holdings in shares of Barnes Group by 2.0% in the first quarter. BlackRock Inc. now owns 6,420,198 shares of the industrial products company’s stock worth $384,506,000 after buying an additional 128,092 shares during the period. Wasatch Advisors Inc. boosted its holdings in shares of Barnes Group by 5.3% in the first quarter. Wasatch Advisors Inc. now owns 2,173,091 shares of the industrial products company’s stock worth $130,146,000 after buying an additional 109,793 shares during the period. Deutsche Bank AG boosted its holdings in shares of Barnes Group by 140.1% in the fourth quarter. Deutsche Bank AG now owns 127,364 shares of the industrial products company’s stock worth $8,055,000 after buying an additional 74,320 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Barnes Group by 3.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,857,577 shares of the industrial products company’s stock worth $117,529,000 after buying an additional 62,317 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Barnes Group by 222.2% in the fourth quarter. Arizona State Retirement System now owns 82,897 shares of the industrial products company’s stock worth $5,245,000 after buying an additional 57,171 shares during the period. Institutional investors own 86.66% of the company’s stock.
Barnes Group stock traded down $0.01 during trading hours on Thursday, hitting $59.01. 3,795 shares of the company traded hands, compared to its average volume of 244,825. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.66 and a beta of 1.34. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.39. Barnes Group has a 1-year low of $52.42 and a 1-year high of $72.87.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. This is a boost from Barnes Group’s previous quarterly dividend of $0.14. Barnes Group’s payout ratio is currently 22.22%.
Barnes Group Company Profile
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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