Barnes Group (NYSE:B – Get Free Report) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.62-1.82 for the period, compared to the consensus 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.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on B. StockNews.com upgraded Barnes Group from a sell rating to a hold rating in a research report on Monday, February 19th. DA Davidson upgraded Barnes Group from a neutral rating to a buy rating and boosted their target price for the stock from $35.00 to $45.00 in a research report on Thursday, April 18th. Truist Financial boosted their target price on Barnes Group from $23.00 to $34.00 and gave the stock a hold rating in a research report on Wednesday, January 10th. Finally, Oppenheimer upped their price objective on Barnes Group from $36.00 to $43.00 and gave the company an outperform rating in a report on Tuesday, February 20th.
Barnes Group Stock Down 3.9 %
Barnes Group (NYSE:B – Get Free Report) last issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The firm had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $420.47 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was up 32.5% compared to the same quarter last year. Equities analysts anticipate that Barnes Group will post 1.69 EPS for the current year.
Barnes Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.85%. Barnes Group’s dividend payout ratio (DPR) is presently 206.45%.
About Barnes Group
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.
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