Barnes Group Inc. (B) Expected to Post Quarterly Sales of $389.21 Million

Equities analysts forecast that Barnes Group Inc. (NYSE:B) will announce sales of $389.21 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Barnes Group’s earnings, with estimates ranging from $385.00 million to $392.50 million. Barnes Group posted sales of $375.32 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is expected to report its next earnings results on Friday, April 26th.

On average, analysts expect that Barnes Group will report full year sales of $1.56 billion for the current financial year, with estimates ranging from $1.54 billion to $1.57 billion. For the next year, analysts expect that the firm will post sales of $1.62 billion, with estimates ranging from $1.60 billion to $1.63 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Barnes Group.

Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $376.69 million for the quarter, compared to analysts’ expectations of $374.04 million. Barnes Group had a return on equity of 13.95% and a net margin of 11.11%. Barnes Group’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS.

A number of brokerages recently weighed in on B. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS Group cut Barnes Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $72.00 to $65.00 in a research note on Friday, February 15th. SunTrust Banks reissued a “hold” rating and issued a $57.00 price target on shares of Barnes Group in a research note on Friday, February 22nd. DA Davidson dropped their price target on Barnes Group to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Finally, Sidoti raised Barnes Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Barnes Group presently has a consensus rating of “Hold” and a consensus target price of $64.50.

B traded up $1.40 during trading on Thursday, reaching $54.25. The company had a trading volume of 485,502 shares, compared to its average volume of 166,343. The stock has a market capitalization of $2.79 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.38 and a beta of 1.45. Barnes Group has a 12-month low of $49.06 and a 12-month high of $72.70. The company has a current ratio of 2.25, a quick ratio of 1.51 and a debt-to-equity ratio of 0.78.

In other Barnes Group news, Director Richard J. Hipple bought 1,000 shares of the stock in a transaction on Wednesday, February 27th. The shares were bought at an average price of $58.83 per share, with a total value of $58,830.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher J. Stephens sold 13,200 shares of Barnes Group stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $58.94, for a total value of $778,008.00. The disclosure for this sale can be found here. Insiders own 8.35% of the company’s stock.

Several institutional investors have recently made changes to their positions in B. Doyle Wealth Management acquired a new stake in shares of Barnes Group during the 4th quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Barnes Group during the 1st quarter valued at about $36,000. Investors Research Corp acquired a new stake in shares of Barnes Group during the 1st quarter valued at about $36,000. Private Capital Group LLC lifted its holdings in shares of Barnes Group by 213.2% during the 4th quarter. Private Capital Group LLC now owns 758 shares of the industrial products company’s stock valued at $41,000 after buying an additional 516 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of Barnes Group during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 85.62% of the company’s stock.

Barnes Group Company Profile

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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