Barnes Group (NYSE:B – Get Free Report) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $1.55-1.75 for the period, compared to the consensus earnings per share estimate of $1.73. The company issued revenue guidance of +10-12% yr/yr to ~$1.60-1.63 billion, compared to the consensus revenue estimate of $1.65 billion. Barnes Group also updated its FY 2024 guidance to 1.550-1.750 EPS.
Barnes Group Stock Performance
B stock opened at $42.11 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97. The firm has a market cap of $2.13 billion, a P/E ratio of 467.89, a P/E/G ratio of 2.46 and a beta of 1.41. Barnes Group has a 12-month low of $18.79 and a 12-month high of $45.24. The stock’s 50 day simple moving average is $40.30 and its 200 day simple moving average is $37.03.
Barnes Group (NYSE:B – Get Free Report) last posted its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $430.64 million for the quarter, compared to analyst estimates of $425.32 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. As a group, equities research analysts predict that Barnes Group will post 1.72 EPS for the current year.
Barnes Group Dividend Announcement
Analyst Ratings Changes
B has been the topic of several analyst reports. Oppenheimer increased their target price on Barnes Group from $43.00 to $48.00 and gave the stock an outperform rating in a research report on Friday, June 14th. DA Davidson increased their target price on Barnes Group from $45.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, June 13th.
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.
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