Analysts Set Expectations 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 to investors on Monday, April 29th. DA Davidson analyst M. Summerville forecasts that the industrial products company will post earnings of $0.40 per share for the quarter. DA Davidson currently has a “Buy” rating and a $45.00 target price on the stock. The consensus estimate for Barnes Group’s current full-year earnings is $1.70 per share.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The business had revenue of $415.50 million for the quarter, compared to analyst estimates of $420.47 million. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 32.5% compared to the same quarter last year.

Several other brokerages have also issued reports on B. Oppenheimer boosted their price objective on shares of Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Truist Financial boosted their price objective on shares of Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Finally, StockNews.com upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th.

Barnes Group Stock Up 0.2 %

Shares of B opened at $34.79 on Tuesday. The firm has a market cap of $1.76 billion, a P/E ratio of 387.78, a price-to-earnings-growth ratio of 2.08 and a beta of 1.38. Barnes Group has a 12-month low of $18.79 and a 12-month high of $43.65. The company’s 50-day moving average price is $36.02 and its 200 day moving average price is $31.99. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97.

Hedge Funds Weigh In On Barnes Group

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Barnes Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock valued at $178,916,000 after acquiring an additional 20,267 shares in the last quarter. Irenic Capital Management LP acquired a new position in shares of Barnes Group during the fourth quarter worth about $47,219,000. Charles Schwab Investment Management Inc. grew its position in shares of Barnes Group by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 771,557 shares of the industrial products company’s stock worth $25,176,000 after buying an additional 62,823 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Barnes Group by 1.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 494,517 shares of the industrial products company’s stock worth $16,136,000 after buying an additional 7,048 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of Barnes Group by 31.8% during the fourth quarter. First Eagle Investment Management LLC now owns 414,301 shares of the industrial products company’s stock worth $13,519,000 after buying an additional 99,957 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Barnes Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, February 21st. Barnes Group’s dividend payout ratio is currently 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.