Analysts Anticipate Barnes Group Inc. (B) Will Announce Quarterly Sales of $361.27 Million

Wall Street brokerages forecast that Barnes Group Inc. (NYSE:B) will post sales of $361.27 million for the current quarter, Zacks reports. Three analysts have provided estimates for Barnes Group’s earnings, with the lowest sales estimate coming in at $357.90 million and the highest estimate coming in at $365.00 million. Barnes Group reported sales of $324.17 million during the same quarter last year, which indicates a positive year over year growth rate of 11.4%. The firm is scheduled to report its next earnings results before the market opens on Friday, February 16th.

According to Zacks, analysts expect that Barnes Group will report full year sales of $361.27 million for the current financial year, with estimates ranging from $1.42 billion to $1.43 billion. For the next financial year, analysts expect that the firm will report sales of $1.51 billion per share, with estimates ranging from $1.49 billion to $1.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Barnes Group.

Barnes Group (NYSE:B) last posted its earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $357.16 million for the quarter, compared to analysts’ expectations of $351.01 million. Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. Barnes Group’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share.

Several equities research analysts recently commented on B shares. BidaskClub raised shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank lifted their target price on shares of Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. SunTrust Banks reaffirmed a “hold” rating and set a $60.00 target price on shares of Barnes Group in a research note on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $65.00 target price on shares of Barnes Group in a research note on Sunday, October 29th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Barnes Group has an average rating of “Buy” and a consensus target price of $65.60.

Shares of Barnes Group (NYSE:B) traded up $0.56 during midday trading on Monday, reaching $63.91. 165,005 shares of the company traded hands, compared to its average volume of 226,031. The stock has a market cap of $3,396.52, a price-to-earnings ratio of 22.23, a PEG ratio of 2.22 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 2.20. Barnes Group has a 12 month low of $45.47 and a 12 month high of $72.87.

The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 22nd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.88%. Barnes Group’s payout ratio is 19.72%.

In related news, Director Thomas O. Barnes sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.36, for a total value of $99,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total value of $997,421.00. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Barnes Group by 143.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,027 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 2,963 shares during the period. Fisher Asset Management LLC purchased a new position in Barnes Group in the third quarter worth $6,274,000. First Trust Advisors LP raised its position in Barnes Group by 7.0% in the second quarter. First Trust Advisors LP now owns 111,842 shares of the industrial products company’s stock worth $6,546,000 after acquiring an additional 7,269 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Barnes Group by 52.4% in the second quarter. BNP Paribas Arbitrage SA now owns 17,979 shares of the industrial products company’s stock worth $1,052,000 after acquiring an additional 6,185 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new position in Barnes Group in the second quarter worth $304,000. 86.35% of the stock is owned by institutional investors and hedge funds.

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About Barnes Group

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

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