Barnes Group (NYSE:B – Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.620-1.820 for the period, compared to the consensus estimate of 1.700. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion.
Analysts Set New Price Targets
Several brokerages have recently commented on B. StockNews.com raised shares of Barnes Group from a sell rating to a hold rating in a research note on Monday, February 19th. DA Davidson raised shares of Barnes Group from a neutral rating to a buy rating and increased their price target for the stock from $35.00 to $45.00 in a research note on Thursday, April 18th. Oppenheimer increased their price target on shares of Barnes Group from $36.00 to $43.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. Finally, Truist Financial increased their price target on shares of Barnes Group from $23.00 to $34.00 and gave the stock a hold rating in a research note on Wednesday, January 10th.
Check Out Our Latest Stock Report on Barnes Group
Barnes Group Price Performance
Barnes Group (NYSE:B – Get Free Report) last announced its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 earnings per share for the quarter, topping 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 net margin of 1.10% and a return on equity of 6.20%. The business’s revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, sell-side analysts forecast that Barnes Group will post 1.69 EPS for the current year.
Barnes Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Wednesday, February 21st. Barnes Group’s dividend payout ratio (DPR) is presently 206.46%.
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.
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