Equities research analysts forecast that Barnes Group Inc. (NYSE:B) will announce sales of $372.12 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Barnes Group’s earnings. The lowest sales estimate is $366.80 million and the highest is $379.20 million. Barnes Group posted sales of $366.66 million during the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The firm is expected to announce its next quarterly earnings results on Friday, April 26th.
On average, analysts expect that Barnes Group will report full-year sales of $1.56 billion for the current financial year, with estimates ranging from $1.55 billion to $1.57 billion. For the next financial year, analysts expect that the business will post sales of $1.62 billion, with estimates ranging from $1.61 billion to $1.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Barnes Group.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, February 22nd. The industrial products company reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. Barnes Group had a return on equity of 13.95% and a net margin of 11.11%. The company had revenue of $384.10 million during the quarter, compared to analysts’ expectations of $391.37 million. During the same period in the prior year, the company earned $0.71 EPS. Barnes Group’s revenue was up 3.0% compared to the same quarter last year.
Shares of B traded down $0.62 during trading hours on Monday, reaching $55.30. The stock had a trading volume of 164,306 shares, compared to its average volume of 172,354. Barnes Group has a 12 month low of $49.06 and a 12 month high of $72.70. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.46 and a beta of 1.47. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.51 and a current ratio of 2.25.
The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 25th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, February 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. Barnes Group’s dividend payout ratio (DPR) is currently 19.88%.
In other Barnes Group news, CFO Christopher J. Stephens sold 13,200 shares of Barnes Group stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $58.94, for a total transaction of $778,008.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Hipple bought 1,000 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were purchased at an average cost of $58.83 per share, for a total transaction of $58,830.00. The disclosure for this purchase can be found here. 7.93% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Barnes Group by 0.8% in the 4th quarter. BlackRock Inc. now owns 6,913,977 shares of the industrial products company’s stock worth $370,728,000 after purchasing an additional 55,465 shares during the period. Bank of America Corp DE raised its holdings in shares of Barnes Group by 1.0% in the 4th quarter. Bank of America Corp DE now owns 4,881,072 shares of the industrial products company’s stock worth $261,724,000 after purchasing an additional 50,717 shares during the period. Wasatch Advisors Inc. raised its holdings in shares of Barnes Group by 24.4% in the 3rd quarter. Wasatch Advisors Inc. now owns 3,153,172 shares of the industrial products company’s stock worth $223,970,000 after purchasing an additional 618,888 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Barnes Group by 12.5% in the 3rd quarter. Macquarie Group Ltd. now owns 2,098,289 shares of the industrial products company’s stock worth $149,041,000 after purchasing an additional 232,733 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Barnes Group by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 674,853 shares of the industrial products company’s stock worth $47,935,000 after purchasing an additional 7,152 shares during the period. 84.66% of the stock is currently owned by hedge funds and other institutional investors.
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, consumer products, packaging, electronics, medical devices, and energy.
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