Analysts Expect Barnes Group Inc. (NYSE:B) to Announce $0.77 EPS

Brokerages expect Barnes Group Inc. (NYSE:B) to announce earnings of $0.77 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Barnes Group’s earnings. Barnes Group reported earnings of $0.78 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.3%. The company is scheduled to announce its next quarterly earnings results before the market opens on Friday, October 25th.

According to Zacks, analysts expect that Barnes Group will report full year earnings of $3.14 per share for the current year, with EPS estimates ranging from $3.03 to $3.20. For the next fiscal year, analysts expect that the firm will post earnings of $3.42 per share, with EPS estimates ranging from $3.20 to $3.55. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Barnes Group.

Barnes Group (NYSE:B) last issued its earnings results on Friday, July 26th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $371.70 million for the quarter, compared to analysts’ expectations of $387.29 million. Barnes Group had a return on equity of 13.20% and a net margin of 9.95%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share.

A number of brokerages have recently issued reports on B. SunTrust Banks downgraded Barnes Group from a “hold” rating to a “sell” rating and cut their target price for the stock from $53.00 to $48.00 in a research note on Friday, June 14th. Zacks Investment Research downgraded Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 target price for the company. in a research note on Thursday, August 1st. UBS Group cut their target price on Barnes Group from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, ValuEngine raised Barnes Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.40.

Shares of B stock traded down $0.52 during trading hours on Monday, reaching $51.54. 246,326 shares of the company’s stock were exchanged, compared to its average volume of 214,268. The company has a market cap of $2.67 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 2.40 and a beta of 1.46. The company’s 50 day moving average is $47.97 and its two-hundred day moving average is $52.39. Barnes Group has a 1 year low of $42.39 and a 1 year high of $71.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.13 and a quick ratio of 1.43.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, August 23rd. Barnes Group’s payout ratio is currently 19.88%.

In related news, VP Marian Acker sold 2,274 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $45.43, for a total value of $103,307.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mylle H. Mangum sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total value of $51,890.00. The disclosure for this sale can be found here. Insiders sold a total of 8,757 shares of company stock valued at $445,632 over the last ninety days. 8.35% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Barnes Group by 1.7% during the second quarter. BlackRock Inc. now owns 7,047,330 shares of the industrial products company’s stock worth $397,045,000 after buying an additional 114,410 shares in the last quarter. Champlain Investment Partners LLC increased its position in Barnes Group by 50.4% during the first quarter. Champlain Investment Partners LLC now owns 1,276,260 shares of the industrial products company’s stock worth $65,613,000 after buying an additional 427,895 shares in the last quarter. Northern Trust Corp increased its position in Barnes Group by 1.3% during the second quarter. Northern Trust Corp now owns 923,394 shares of the industrial products company’s stock worth $52,024,000 after buying an additional 11,999 shares in the last quarter. Bank of New York Mellon Corp increased its position in Barnes Group by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 665,301 shares of the industrial products company’s stock worth $37,483,000 after buying an additional 6,030 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Barnes Group by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 508,810 shares of the industrial products company’s stock worth $27,282,000 after buying an additional 36,657 shares in the last quarter. 85.83% of the stock is 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, automation, personal care, packaging, electronics, and medical devices.

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Earnings History and Estimates for Barnes Group (NYSE:B)

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