Analysts Issue Forecasts for Barnes Group Inc.’s Q2 2024 Earnings (NYSE:B)

Barnes Group Inc. (NYSE:B) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for 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 earn $0.40 per share 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.

Other research analysts have also issued reports about the company. Oppenheimer raised 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. Truist Financial boosted their price objective on 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 raised Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th.

Barnes Group Stock Up 2.7 %

Barnes Group stock opened at $35.39 on Tuesday. Barnes Group has a one year low of $18.79 and a one year high of $43.65. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41. The firm has a market capitalization of $1.79 billion, a P/E ratio of 393.22, a P/E/G ratio of 2.05 and a beta of 1.38. The company has a 50-day simple moving average of $36.04 and a 200-day simple moving average of $31.98.

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

Barnes Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, February 21st. Barnes Group’s dividend payout ratio is currently 711.11%.

Institutional Trading of Barnes Group

Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in Barnes Group by 418.3% during the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 983 shares during the last quarter. GAMMA Investing LLC acquired a new position in Barnes Group in the fourth quarter worth approximately $58,000. CWM LLC raised its position in Barnes Group by 470.7% during the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,732 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of 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 worth $150,000 after purchasing an additional 4,589 shares during the last quarter. Finally, Simplex Trading LLC raised its holdings in shares of Barnes Group by 3,438.3% during the 4th quarter. Simplex Trading LLC now owns 6,543 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 6,739 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.