Barnes Group Inc. (NYSE:B) – Equities research analysts at SunTrust Banks reduced their Q3 2018 earnings per share (EPS) estimates for shares of Barnes Group in a report issued on Wednesday, October 17th, according to Zacks Investment Research. SunTrust Banks analyst M. Ciarmoli now anticipates that the industrial products company will earn $0.80 per share for the quarter, down from their previous forecast of $0.81. SunTrust Banks currently has a “Hold” rating and a $61.00 price target on the stock. SunTrust Banks also issued estimates for Barnes Group’s FY2018 earnings at $3.24 EPS, FY2019 earnings at $3.51 EPS and FY2020 earnings at $4.06 EPS.
A number of other research firms have also weighed in on B. Robert W. Baird raised their target price on Barnes Group from $58.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Zacks Investment Research upgraded Barnes Group from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group began coverage on Barnes Group in a report on Wednesday, August 15th. They set a “buy” rating and a $80.00 price target on the stock. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. Finally, Oppenheimer lifted their price target on Barnes Group from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, September 25th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Barnes Group currently has an average rating of “Hold” and a consensus target price of $72.00.
Barnes Group (NYSE:B) last posted its earnings results on Friday, October 26th. The industrial products company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). Barnes Group had a net margin of 4.60% and a return on equity of 13.39%. The company had revenue of $369.80 million during the quarter, compared to the consensus estimate of $379.27 million. During the same quarter in the prior year, the business earned $0.66 EPS. The firm’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. Investors of record on Tuesday, November 27th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, November 26th. This represents a $0.64 dividend on an annualized basis and a yield of 1.11%. Barnes Group’s dividend payout ratio (DPR) is currently 22.22%.
Institutional investors have recently modified their holdings of the stock. First Hawaiian Bank bought a new stake in shares of Barnes Group in the third quarter valued at $167,000. Tower Research Capital LLC TRC bought a new stake in shares of Barnes Group in the second quarter valued at $184,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Barnes Group in the third quarter valued at $216,000. Janney Montgomery Scott LLC bought a new stake in shares of Barnes Group in the second quarter valued at $226,000. Finally, Visionary Asset Management Inc. bought a new stake in shares of Barnes Group in the third quarter valued at $227,000. Institutional investors and hedge funds own 84.95% of the company’s stock.
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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