Barnes Group (B) Set to Announce Earnings on Friday

Barnes Group (NYSE:B) is scheduled to be posting its quarterly earnings results 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.Investors interested in registering for the company’s conference call can do so using this link.

Barnes Group (NYSE:B) last issued 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. The company had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $420.47 million. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The business’s revenue was up 32.5% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. 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 Up 1.2 %

Shares of NYSE B opened at $36.29 on Wednesday. The stock has a market cap of $1.84 billion, a PE ratio of 117.07, a PEG ratio of 2.12 and a beta of 1.38. The business has a fifty day moving average of $36.09 and a two-hundred day moving average of $31.91. Barnes Group has a 52-week low of $18.79 and a 52-week high of $43.65. 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 Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.76%. Barnes Group’s payout ratio is presently 206.46%.

Analysts Set New Price Targets

A number of research firms recently issued reports on B. StockNews.com raised Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Oppenheimer lifted their price target on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. DA Davidson raised Barnes Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $35.00 to $45.00 in a report on Thursday, April 18th. Finally, Truist Financial boosted their price objective on Barnes Group from $23.00 to $34.00 and gave the stock a “hold” rating in a report 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.