Barnes Group (NYSE:B – Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.620-1.820 for the period, compared to the consensus estimate of 1.700. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion. Barnes Group also updated its FY24 guidance to $1.62-1.82 EPS.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. DA Davidson upgraded shares of Barnes Group from a neutral rating to a buy rating and increased their price objective for the company from $35.00 to $45.00 in a research note on Thursday, April 18th. Oppenheimer increased their price objective 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. Truist Financial increased their price objective on shares of Barnes Group from $23.00 to $34.00 and gave the company a hold rating in a research note on Wednesday, January 10th. Finally, StockNews.com upgraded shares of Barnes Group from a sell rating to a hold rating in a research note on Monday, February 19th.
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Barnes Group Stock Performance
Barnes Group (NYSE:B – Get Free Report) last released its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Barnes Group had a net margin of 1.10% and a return on equity of 6.20%. The company had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $420.47 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, research analysts forecast that Barnes Group will post 1.69 EPS for the current year.
Barnes Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were given a $0.16 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.86%. Barnes Group’s dividend payout ratio (DPR) is 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.
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