Analysts Set Expectations for Barnes Group Inc.’s Q2 2024 Earnings (NYSE:B)

Barnes Group Inc. (NYSE:B) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Barnes Group in a research report issued to clients and investors on Monday, April 29th. DA Davidson analyst M. Summerville anticipates that the industrial products company will post earnings per share of $0.40 for the quarter. DA Davidson currently has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Barnes Group’s current full-year earnings is $1.70 per share.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) 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 analyst estimates of $420.47 million. Barnes Group had a net margin of 0.31% and a return on equity of 5.92%. The company’s revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS.

B has been the subject of several other reports. Oppenheimer raised their target price on shares of Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th. Finally, Truist Financial lifted their price target on shares of Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th.

Barnes Group Trading Up 0.2 %

NYSE:B opened at $34.79 on Tuesday. The company has a 50-day moving average price of $36.02 and a 200-day moving average price of $31.99. Barnes Group has a 12 month low of $18.79 and a 12 month high of $43.65. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 387.78, a P/E/G ratio of 2.08 and a beta of 1.38.

Institutional Trading of Barnes Group

A number of large investors have recently made changes to their positions in B. Parallel Advisors LLC grew its position in Barnes Group by 418.3% during the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after buying an additional 983 shares during the period. GAMMA Investing LLC bought a new stake in Barnes Group during the fourth quarter valued at approximately $58,000. CWM LLC grew its position in Barnes Group by 470.7% during the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,732 shares during the period. TFO Wealth Partners LLC grew its position in Barnes Group by 57,362.5% during the fourth quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock valued at $150,000 after buying an additional 4,589 shares during the period. Finally, Simplex Trading LLC grew its position in Barnes Group by 3,438.3% during the fourth quarter. Simplex Trading LLC now owns 6,543 shares of the industrial products company’s stock valued at $213,000 after buying an additional 6,739 shares during the period. 90.82% of the stock is currently owned by institutional investors.

Barnes Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.84%. Barnes Group’s dividend payout ratio is presently 711.11%.

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.