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 guidance of 3.12-3.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.42. Barnes Group also updated its FY20 guidance to $3.12-3.32 EPS.

A number of analysts have recently issued reports on B shares. Imperial Capital raised their price target on shares of Barnes Group from $14.00 to $15.00 and gave the stock an outperform rating in a report on Monday, February 10th. UBS Group upgraded shares of Barnes Group from a neutral rating to a buy rating and upped their target price for the company from $60.00 to $72.00 in a report on Wednesday, January 15th. Morgan Stanley raised their price target on shares of Barnes Group from $56.00 to $60.00 and gave the stock an equal weight rating in a research note on Monday, December 9th. Sidoti lifted their price target on shares of Barnes Group from $74.00 to $78.00 and gave the stock a buy rating in a report on Thursday, January 23rd. Finally, SunTrust Banks upgraded shares of Barnes Group from a sell rating to a hold rating and lifted their price target for the stock from $49.00 to $57.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Barnes Group presently has an average rating of Hold and an average target price of $59.30.

NYSE:B traded down $3.57 during mid-day trading on Monday, reaching $62.71. The stock had a trading volume of 2,503 shares, compared to its average volume of 158,908. The stock has a market capitalization of $3.36 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.03 and a beta of 1.41. The firm has a 50 day moving average price of $64.78 and a two-hundred day moving average price of $56.93. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.55 and a current ratio of 2.23. Barnes Group has a one year low of $42.39 and a one year high of $68.60.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders 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 is 19.94%.

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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