Wall Street brokerages expect that Barnes Group Inc. (NYSE:B) will post $364.43 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Barnes Group’s earnings. The lowest sales estimate is $357.68 million and the highest is $373.00 million. Barnes Group posted sales of $341.80 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The company is expected to issue its next earnings report before the market opens on Friday, April 27th.
According to Zacks, analysts expect that Barnes Group will report full-year sales of $1.51 billion for the current fiscal year, with estimates ranging from $1.50 billion to $1.53 billion. For the next year, analysts anticipate that the company will post sales of $1.58 billion per share, with estimates ranging from $1.56 billion to $1.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Barnes Group.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Barnes Group had a net margin of 4.15% and a return on equity of 12.36%. The firm had revenue of $373.00 million during the quarter, compared to analysts’ expectations of $357.77 million. During the same quarter last year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year.
Shares of NYSE:B traded up $1.60 during mid-day trading on Friday, reaching $63.18. 176,800 shares of the company were exchanged, compared to its average volume of 217,153. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.67 and a current ratio of 2.43. The stock has a market capitalization of $3,255.28, a P/E ratio of 21.94, a PEG ratio of 1.99 and a beta of 1.32. Barnes Group has a 1 year low of $50.09 and a 1 year high of $72.87.
In other Barnes Group news, Director Richard J. Hipple bought 1,300 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $62.06 per share, for a total transaction of $80,678.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marian Acker sold 7,860 shares of Barnes Group stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $63.12, for a total transaction of $496,123.20. The disclosure for this sale can be found here. 7.93% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its position in shares of Barnes Group by 35.9% in the third quarter. New York State Common Retirement Fund now owns 74,600 shares of the industrial products company’s stock worth $5,255,000 after purchasing an additional 19,700 shares in the last quarter. Legal & General Group Plc increased its position in Barnes Group by 2.2% in the third quarter. Legal & General Group Plc now owns 98,392 shares of the industrial products company’s stock worth $6,932,000 after purchasing an additional 2,139 shares during the period. Wells Fargo & Company MN increased its position in Barnes Group by 8.8% in the third quarter. Wells Fargo & Company MN now owns 157,425 shares of the industrial products company’s stock worth $11,089,000 after purchasing an additional 12,705 shares during the period. Schwab Charles Investment Management Inc. increased its position in Barnes Group by 2.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 305,164 shares of the industrial products company’s stock worth $21,496,000 after purchasing an additional 6,089 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Barnes Group by 29.2% in the third quarter. Envestnet Asset Management Inc. now owns 13,847 shares of the industrial products company’s stock worth $974,000 after purchasing an additional 3,127 shares during the period. 87.82% of the stock is owned by institutional investors and hedge funds.
About Barnes Group
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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