Barnes Group (NYSE:B) Releases FY20 Earnings Guidance

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Barnes Group (NYSE:B) updated its FY20 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.12-3.32 for the period, compared to the Thomson Reuters consensus estimate of $3.41. The company issued revenue guidance of down slightly from $1.49 billion, compared to the consensus revenue estimate of $1.51 billion.Barnes Group also updated its FY 2020
Pre-Market guidance to 3.12-3.32 EPS.

Several equities analysts recently issued reports on B shares. Sidoti boosted their price objective on 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 reissued an equal weight rating on shares of Barnes Group in a report on Tuesday, January 21st. Imperial Capital increased their price objective on Barnes Group from $14.00 to $15.00 and gave the company an outperform rating in a report on Monday, February 10th. UBS Group raised Barnes Group from a neutral rating to a buy rating and increased their price objective for the company from $60.00 to $72.00 in a report on Wednesday, January 15th. Finally, SunTrust Banks raised Barnes Group from a sell rating to a hold rating and increased their price objective for the company from $49.00 to $57.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Barnes Group presently has an average rating of Hold and an average target price of $59.30.

Shares of B stock traded down $3.38 during mid-day trading on Monday, reaching $62.90. 5,625 shares of the stock traded hands, compared to its average volume of 158,908. The stock’s fifty day simple moving average is $64.78 and its two-hundred day simple moving average is $56.93. Barnes Group has a 1-year low of $42.39 and a 1-year high of $68.60. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. The company has a quick ratio of 1.55, a current ratio of 2.23 and a debt-to-equity ratio of 0.65.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Thursday, February 27th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, February 26th. Barnes Group’s dividend payout ratio is presently 19.94%.

About Barnes Group

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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