Barnes Group (B) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Barnes Group (NYSE:B) released its quarterly earnings results on Friday. The industrial products company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03, Bloomberg Earnings reports. The firm had revenue of $373.00 million during the quarter, compared to analyst estimates of $357.77 million. Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. Barnes Group updated its FY18 guidance to $2.98-3.13 EPS.
Barnes Group (NYSE:B) traded up $1.06 during mid-day trading on Friday, reaching $63.95. The company’s stock had a trading volume of 289,276 shares, compared to its average volume of 207,399. Barnes Group has a 1-year low of $48.21 and a 1-year high of $72.87. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. The company has a market cap of $3,428.42, a P/E ratio of 59.77, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.56 annualized dividend and a yield of 0.88%. Barnes Group’s payout ratio is 52.34%.
B has been the subject of a number of recent research reports. Robert W. Baird reiterated a “hold” rating and set a $65.00 price objective on shares of Barnes Group in a research note on Sunday, October 29th. Zacks Investment Research downgraded Barnes Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, SunTrust Banks reiterated a “hold” rating and set a $67.00 price objective on shares of Barnes Group in a research note on Tuesday, January 9th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Barnes Group currently has a consensus rating of “Buy” and an average target price of $68.17.
Barnes Group Company Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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