Analysts Anticipate Barnes Group Inc. (B) to Post $0.60 EPS
Equities analysts expect Barnes Group Inc. (NYSE:B) to post earnings of $0.60 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Barnes Group’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.59. Barnes Group reported earnings per share of $0.54 during the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The business is expected to report its next earnings results before the market opens on Friday, April 28th.
On average, analysts expect that Barnes Group will report full-year earnings of $2.71 per share for the current fiscal year, with EPS estimates ranging from $2.69 to $2.74. For the next year, analysts forecast that the business will post earnings of $2.93 per share, with EPS estimates ranging from $2.85 to $2.97. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Barnes Group.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, February 17th. The industrial products company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.03. The company earned $324.17 million during the quarter, compared to analysts’ expectations of $328.23 million. Barnes Group had a return on equity of 12.10% and a net margin of 10.33%. Barnes Group’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share.
A number of brokerages have recently issued reports on B. Zacks Investment Research downgraded Barnes Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Jefferies Group LLC raised their price objective on Barnes Group from $46.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. Finally, SunTrust Banks, Inc. began coverage on Barnes Group in a research note on Thursday, January 19th. They issued a “hold” rating and a $49.00 price objective for the company.
Shares of Barnes Group (NYSE:B) traded up 0.35% on Tuesday, reaching $51.43. The company had a trading volume of 158,827 shares. Barnes Group has a 52 week low of $31.13 and a 52 week high of $51.97. The firm has a market capitalization of $2.77 billion, a P/E ratio of 20.74 and a beta of 1.45. The company’s 50-day moving average price is $50.35 and its 200 day moving average price is $46.73.
In other Barnes Group news, Director Gary G. Benanav sold 12,735 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $49.97, for a total transaction of $636,367.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas O. Barnes sold 12,577 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $50.14, for a total value of $630,610.78. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in B. Meeder Asset Management Inc. bought a new position in Barnes Group during the third quarter valued at $297,000. Nationwide Fund Advisors boosted its stake in Barnes Group by 10.2% in the third quarter. Nationwide Fund Advisors now owns 270,446 shares of the industrial products company’s stock valued at $10,967,000 after buying an additional 25,091 shares during the period. Rothschild Asset Management Inc. boosted its stake in Barnes Group by 5.4% in the third quarter. Rothschild Asset Management Inc. now owns 593,038 shares of the industrial products company’s stock valued at $24,048,000 after buying an additional 30,377 shares during the period. Tocqueville Asset Management L.P. boosted its stake in Barnes Group by 2,273.8% in the third quarter. Tocqueville Asset Management L.P. now owns 237,375 shares of the industrial products company’s stock valued at $9,626,000 after buying an additional 227,375 shares during the period. Finally, Aperio Group LLC boosted its stake in Barnes Group by 25.4% in the third quarter. Aperio Group LLC now owns 22,068 shares of the industrial products company’s stock valued at $895,000 after buying an additional 4,465 shares during the period. 83.27% of the stock is owned by institutional investors.
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Barnes Group Company Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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