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

Barnes Group (NYSE:B) will 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 participating in the company’s conference call can do so using this link.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The company had revenue of $415.50 million for the quarter, compared to analyst estimates of $420.47 million. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. 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 Stock Performance

NYSE:B opened at $36.10 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.37 and a current ratio of 2.29. Barnes Group has a 52-week low of $18.79 and a 52-week high of $43.65. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 116.46, a PEG ratio of 2.01 and a beta of 1.38. The business’s fifty day moving average is $36.04 and its 200 day moving average is $31.87.

Barnes Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.77%. Barnes Group’s payout ratio is 206.46%.

Institutional Investors Weigh In On Barnes Group

Several institutional investors and hedge funds have recently bought and sold shares of B. Lazard Asset Management LLC purchased a new stake in Barnes Group in the 2nd quarter worth approximately $51,000. Tower Research Capital LLC TRC lifted its holdings in Barnes Group by 275.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company’s stock worth $69,000 after buying an additional 1,258 shares during the period. Advisory Services Network LLC purchased a new stake in Barnes Group in the 4th quarter worth approximately $82,000. Money Concepts Capital Corp bought a new position in shares of Barnes Group in the 4th quarter worth approximately $96,000. Finally, Captrust Financial Advisors raised its position in shares of Barnes Group by 45.6% in the 1st quarter. Captrust Financial Advisors now owns 3,048 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 954 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

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

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.