Zacks: Analysts Anticipate Barnes Group Inc. (NYSE:B) to Post $0.48 EPS

Wall Street brokerages forecast that Barnes Group Inc. (NYSE:BGet Rating) will post earnings per share (EPS) of $0.48 for the current quarter, according to Zacks. Two analysts have provided estimates for Barnes Group’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.49. Barnes Group posted earnings of $0.45 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Barnes Group will report full-year earnings of $2.20 per share for the current year, with EPS estimates ranging from $2.13 to $2.25. For the next financial year, analysts expect that the business will post earnings of $2.75 per share, with EPS estimates ranging from $2.54 to $3.00. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Barnes Group.

Barnes Group (NYSE:BGet Rating) last issued its quarterly earnings data on Friday, April 29th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $312.80 million during the quarter, compared to the consensus estimate of $306.54 million. Barnes Group had a return on equity of 7.06% and a net margin of 7.95%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Several research firms have weighed in on B. Zacks Investment Research raised shares of Barnes Group from a “sell” rating to a “hold” rating and set a $39.00 target price for the company in a research note on Friday, April 29th. StockNews.com began coverage on shares of Barnes Group in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Alembic Global Advisors lowered Barnes Group from an “overweight” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Monday, April 11th. Finally, Truist Financial dropped their target price on Barnes Group from $48.00 to $41.00 and set a “hold” rating for the company in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.83.

In other news, Director Mylle H. Mangum sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $32.25, for a total transaction of $161,250.00. Following the completion of the transaction, the director now directly owns 22,610 shares of the company’s stock, valued at $729,172.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James C. Pelletier sold 1,619 shares of Barnes Group stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $46.50, for a total transaction of $75,283.50. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

Several large investors have recently bought and sold shares of B. Invesco Ltd. increased its holdings in shares of Barnes Group by 3.0% during the 3rd quarter. Invesco Ltd. now owns 152,608 shares of the industrial products company’s stock worth $6,369,000 after acquiring an additional 4,447 shares during the last quarter. Diversified Trust Co lifted its holdings in Barnes Group by 8.7% during the 4th quarter. Diversified Trust Co now owns 15,850 shares of the industrial products company’s stock worth $738,000 after purchasing an additional 1,268 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Barnes Group by 22.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,635 shares of the industrial products company’s stock valued at $1,946,000 after purchasing an additional 8,539 shares during the period. GSA Capital Partners LLP grew its holdings in Barnes Group by 99.5% in the 4th quarter. GSA Capital Partners LLP now owns 26,697 shares of the industrial products company’s stock valued at $1,244,000 after buying an additional 13,317 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Barnes Group during the third quarter worth $230,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Barnes Group stock traded up $0.61 during trading on Thursday, reaching $35.51. The company’s stock had a trading volume of 3,956 shares, compared to its average volume of 236,954. Barnes Group has a one year low of $31.08 and a one year high of $56.98. The stock has a 50-day moving average price of $36.73 and a two-hundred day moving average price of $42.46. The company has a current ratio of 2.43, a quick ratio of 1.53 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.80 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Thursday, May 26th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, May 25th. Barnes Group’s payout ratio is 32.32%.

Barnes Group Company Profile (Get Rating)

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in 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.

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