Barnes Group (B) Set to Announce Quarterly Earnings on Friday

Barnes Group (NYSE:B) is scheduled to issue its quarterly earnings data before the market opens on Friday, April 26th. Analysts expect the company to announce 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.Parties interested in listening to the company’s conference call can do so using this link.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $420.47 million. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The business’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period last year, the firm earned $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 Price Performance

NYSE:B opened at $36.10 on Friday. Barnes Group has a 52 week low of $18.79 and a 52 week high of $43.65. The company has a quick ratio of 1.37, a current ratio of 2.29 and a debt-to-equity ratio of 0.94. The business’s 50-day simple moving average is $36.04 and its two-hundred day simple moving average is $31.87. The stock has a market cap of $1.83 billion, a PE ratio of 116.46, a P/E/G ratio of 2.01 and a beta of 1.38.

Barnes Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were issued 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 1.77%. Barnes Group’s dividend payout ratio (DPR) is 206.46%.

Institutional Investors Weigh In On Barnes Group

Large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its position in shares of Barnes Group by 159.3% during the third quarter. Captrust Financial Advisors now owns 7,524 shares of the industrial products company’s stock valued at $217,000 after buying an additional 4,622 shares during the period. Creative Planning purchased a new position in shares of Barnes Group during the fourth quarter valued at approximately $202,000. Resources Management Corp CT ADV boosted its position in shares of Barnes Group by 388.9% during the second quarter. Resources Management Corp CT ADV now owns 4,400 shares of the industrial products company’s stock valued at $186,000 after buying an additional 3,500 shares during the period. State of Wyoming boosted its position in shares of Barnes Group by 7.9% during the second quarter. State of Wyoming now owns 4,401 shares of the industrial products company’s stock valued at $186,000 after buying an additional 322 shares during the period. Finally, Advisor Group Holdings Inc. boosted its position in shares of Barnes Group by 15.0% during the first quarter. Advisor Group Holdings Inc. now owns 4,191 shares of the industrial products company’s stock valued at $168,000 after buying an additional 546 shares during the period. 90.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

About Barnes Group

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.