Barnes Group (B) Set to Announce Earnings on Friday

Barnes Group (NYSE:B) is set to announce its earnings results before the market opens on Friday, April 26th. Analysts expect the company to announce 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 that are interested in registering for the company’s 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 the consensus estimate of $0.35 by $0.06. The business had revenue of $415.50 million for 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 company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the firm 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 Price Performance

Shares of NYSE B opened at $36.26 on Thursday. The stock has a market cap of $1.84 billion, a P/E ratio of 116.97, a PEG ratio of 2.13 and a beta of 1.38. The company has a current ratio of 2.29, a quick ratio of 1.37 and a debt-to-equity ratio of 0.94. Barnes Group has a 12-month low of $18.79 and a 12-month high of $43.65. The business’s fifty day simple moving average is $36.09 and its 200-day simple moving average is $31.91.

Barnes Group Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on B shares. Oppenheimer raised their price target on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. StockNews.com upgraded Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th. DA Davidson upgraded Barnes Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $45.00 in a research note on Thursday, April 18th. Finally, Truist Financial raised their price target on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th.

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.