Q1 2019 EPS Estimates for Barnes Group Inc. (B) Raised by Analyst
Barnes Group Inc. (NYSE:B) – Investment analysts at DA Davidson lifted their Q1 2019 earnings per share estimates for Barnes Group in a research report issued to clients and investors on Monday, November 19th. DA Davidson analyst M. Summerville now forecasts that the industrial products company will post earnings of $0.81 per share for the quarter, up from their previous forecast of $0.78. DA Davidson currently has a “Hold” rating and a $66.00 price objective on the stock. DA Davidson also issued estimates for Barnes Group’s Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $0.87 EPS and FY2019 earnings at $3.50 EPS.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Oppenheimer boosted their target price on Barnes Group from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. SunTrust Banks reissued a “hold” rating and issued a $63.00 target price on shares of Barnes Group in a research note on Friday, July 27th. Robert W. Baird boosted their target price on Barnes Group from $58.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Finally, UBS Group initiated coverage on Barnes Group in a research note on Wednesday, August 15th. They issued a “buy” rating and a $80.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Barnes Group currently has a consensus rating of “Hold” and a consensus price target of $71.83.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, October 26th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Barnes Group had a return on equity of 13.39% and a net margin of 4.60%. The firm had revenue of $369.80 million during the quarter, compared to analysts’ expectations of $379.27 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. Barnes Group’s revenue for the quarter was up 3.5% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 27th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Monday, November 26th. Barnes Group’s payout ratio is 22.22%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC raised its position in Barnes Group by 15.0% during the 2nd quarter. Aperio Group LLC now owns 30,920 shares of the industrial products company’s stock valued at $1,821,000 after purchasing an additional 4,025 shares during the last quarter. Signet Financial Management LLC raised its position in Barnes Group by 0.9% during the 2nd quarter. Signet Financial Management LLC now owns 92,069 shares of the industrial products company’s stock valued at $5,423,000 after purchasing an additional 816 shares during the last quarter. Visionary Asset Management Inc. bought a new position in Barnes Group during the 3rd quarter valued at approximately $227,000. PEAK6 Investments L.P. bought a new position in Barnes Group during the 2nd quarter valued at approximately $652,000. Finally, Janus Henderson Group PLC raised its position in Barnes Group by 4.9% during the 2nd quarter. Janus Henderson Group PLC now owns 553,802 shares of the industrial products company’s stock valued at $32,619,000 after purchasing an additional 26,044 shares during the last quarter. 86.16% of the stock is owned by institutional investors and hedge funds.
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, consumer products, packaging, electronics, medical devices, and energy.
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