Barnes Group (NYSE:B) Issues FY24 Earnings Guidance

Barnes Group (NYSE:B) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $1.62-1.82 for the period, compared to the consensus EPS estimate of $1.70. The company issued revenue guidance of +13-16% yr/yr to ~$1.64-1.68 billion, compared to the consensus revenue estimate of $1.63 billion. Barnes Group also updated its FY 2024 guidance to 1.620-1.820 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial boosted their price objective on shares of Barnes Group from $23.00 to $34.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Oppenheimer upped their target price on shares of Barnes Group from $36.00 to $43.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. DA Davidson upgraded shares of Barnes Group from a neutral rating to a buy rating and upped their target price for the company from $35.00 to $45.00 in a research note on Thursday, April 18th. Finally, StockNews.com upgraded shares of Barnes Group from a sell rating to a hold rating in a research note on Monday, February 19th.

Barnes Group Price Performance

NYSE B opened at $34.47 on Monday. Barnes Group has a 52 week low of $18.79 and a 52 week high of $43.65. The company has a current ratio of 2.29, a quick ratio of 1.37 and a debt-to-equity ratio of 0.94. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 383.00, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. The company has a 50-day moving average price of $36.06 and a two-hundred day moving average price of $31.96.

Barnes Group (NYSE:B) last posted its earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. Barnes Group had a net margin of 1.10% and a return on equity of 6.20%. The firm had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $420.47 million. During the same quarter in the prior year, the firm earned $0.52 EPS. Barnes Group’s quarterly revenue was up 32.5% on a year-over-year basis. Analysts forecast that Barnes Group will post 1.69 EPS for the current year.

Barnes Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, February 21st. Barnes Group’s dividend payout ratio (DPR) is presently 711.11%.

Barnes Group Company Profile

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.