Barnes Group (B) Set to Announce Earnings on Friday

Barnes Group (NYSE:B) is set to release its earnings data before the market opens on Friday, April 26th. Analysts expect Barnes Group to post 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.Persons interested in registering for the company’s earnings conference call can do so using this link.

Barnes Group (NYSE:B) last announced 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 business had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $420.47 million. During the same period in the previous year, the business posted $0.52 EPS. The firm’s quarterly revenue 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

Shares of Barnes Group stock opened at $36.26 on Thursday. Barnes Group has a 52-week low of $18.79 and a 52-week high of $43.65. The stock’s 50-day simple moving average is $36.09 and its 200 day simple moving average is $31.91. The stock has a market capitalization of $1.84 billion, a P/E ratio of 116.97, a P/E/G ratio of 2.13 and a beta of 1.38. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

B has been the subject of several recent analyst reports. DA Davidson raised Barnes Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $45.00 in a report on Thursday, April 18th. StockNews.com raised Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Oppenheimer boosted their price objective on Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, 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.

About Barnes Group

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.