Barnes Group, Inc. Expected to Post FY2018 Earnings of $3.05 Per Share (B)
Barnes Group, Inc. (NYSE:B) – Research analysts at Oppenheimer Holdings lifted their FY2018 EPS estimates for Barnes Group in a research note issued on Thursday. Oppenheimer Holdings analyst C. Glynn now anticipates that the industrial products company will post earnings of $3.05 per share for the year, up from their previous forecast of $3.00. Oppenheimer Holdings has a “Outperform” rating and a $67.00 price objective on the stock.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The business had revenue of $364.49 million during the quarter, compared to the consensus estimate of $337.69 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s quarterly revenue was up 18.8% compared to the same quarter last year.
Several other brokerages also recently commented on B. BidaskClub raised Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Deutsche Bank AG lifted their price target on Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of Barnes Group in a research report on Thursday, June 8th. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded Barnes Group from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $62.60.
Barnes Group (NYSE B) traded up 0.44% during mid-day trading on Monday, hitting $64.56. 199,808 shares of the stock were exchanged. The company has a 50-day moving average price of $60.86 and a 200-day moving average price of $56.28. Barnes Group has a one year low of $37.88 and a one year high of $65.61. The company has a market cap of $3.48 billion, a P/E ratio of 22.57 and a beta of 1.43.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 24th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Tuesday, August 22nd. Barnes Group’s dividend payout ratio is presently 19.58%.
In other news, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total transaction of $362,280.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas O. Barnes sold 755 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $61.22, for a total value of $46,221.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,755 shares of company stock worth $528,361. 8.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacad Investment Ltd. increased its position in shares of Barnes Group by 5.9% during the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 100 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Barnes Group in the second quarter valued at $109,000. LS Investment Advisors LLC grew its position in Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 85 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Barnes Group by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 188 shares during the period. Finally, Acrospire Investment Management LLC grew its position in Barnes Group by 16.0% in the second quarter. Acrospire Investment Management LLC now owns 2,178 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.
Barnes Group Company Profile
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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