Equities Analysts Offer Predictions for Barnes Group Inc.’s Q2 2024 Earnings (NYSE:B)

Barnes Group Inc. (NYSE:B) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Barnes Group in a research note issued on Monday, April 29th. DA Davidson analyst M. Summerville forecasts that the industrial products company will post earnings per share of $0.40 for the quarter. DA Davidson 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 $1.69 per share.

Barnes Group (NYSE:B) last released its quarterly earnings data 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 the consensus estimate of $420.47 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The company’s revenue was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

A number of other equities analysts have also commented on the stock. 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. Truist Financial lifted their price objective on shares of Barnes Group from $23.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Finally, StockNews.com upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th.

Barnes Group Stock Up 2.7 %

Shares of NYSE:B opened at $35.39 on Tuesday. Barnes Group has a 12 month low of $18.79 and a 12 month high of $43.65. The company has a 50-day moving average price of $36.04 and a 200 day moving average price of $31.98. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 393.22, a PEG ratio of 2.05 and a beta of 1.38. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97.

Institutional Investors Weigh In On Barnes Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in B. Parallel Advisors LLC boosted its position in shares of Barnes Group by 418.3% during the 4th quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 983 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Barnes Group in the fourth quarter valued at $58,000. CWM LLC raised its holdings in shares of Barnes Group by 470.7% in the 4th 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 boosted its holdings in Barnes Group by 57,362.5% during the 4th quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 4,589 shares during the period. Finally, Simplex Trading LLC grew its position in Barnes Group by 3,438.3% in the 4th quarter. Simplex Trading LLC now owns 6,543 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 6,739 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barnes Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Wednesday, February 21st. Barnes Group’s 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.