Barnes Group (NYSE:B – Get Free Report) 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.
Get Our Latest Report on Barnes Group
Barnes Group Price Performance
Barnes Group (NYSE:B – Get Free Report) 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.
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