Barnes Group (NYSE:B) Issues FY 2020 Pre-Market Earnings Guidance

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Barnes Group (NYSE:B) issued an update on its FY 2020
Pre-Market earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 3.12-3.32 for the period, compared to the Thomson Reuters consensus estimate of $3.42. Barnes Group also updated its FY20 guidance to $3.12-3.32 EPS.

Barnes Group stock traded down $3.57 during trading hours on Monday, reaching $62.71. 2,503 shares of the stock were exchanged, compared to its average volume of 158,908. The company has a market cap of $3.36 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. The company has a current ratio of 2.23, a quick ratio of 1.55 and a debt-to-equity ratio of 0.65. Barnes Group has a twelve month low of $42.39 and a twelve month high of $68.60. The stock has a 50 day moving average of $64.78 and a two-hundred day moving average of $56.93.

Barnes Group (NYSE:B) last issued its earnings results on Friday, February 21st. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. Barnes Group had a net margin of 10.62% and a return on equity of 13.47%. The company had revenue of $370.20 million during the quarter, compared to analysts’ expectations of $375.93 million. During the same period in the previous year, the company earned $0.84 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts expect that Barnes Group will post 3.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Thursday, February 27th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. Barnes Group’s dividend payout ratio (DPR) is 19.94%.

B has been the subject of several research analyst reports. Sidoti boosted their price objective on shares of Barnes Group from $74.00 to $78.00 and gave the company a buy rating in a research report on Thursday, January 23rd. Wells Fargo & Co reiterated an equal weight rating on shares of Barnes Group in a report on Tuesday, January 21st. Citigroup upped their price target on shares of Barnes Group from $67.00 to $68.00 and gave the company a neutral rating in a report on Monday, December 9th. UBS Group raised shares of Barnes Group from a neutral rating to a buy rating and increased their price objective for the stock from $60.00 to $72.00 in a research report on Wednesday, January 15th. Finally, Imperial Capital raised their price objective on shares of Barnes Group from $14.00 to $15.00 and gave the stock an outperform rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $59.30.

Barnes Group Company Profile

Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.

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