Barnes Group (NYSE:B – Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 1.550-1.750 for the period, compared to the consensus earnings per share estimate of 1.720. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.7 billion. Barnes Group also updated its FY24 guidance to $1.55-1.75 EPS.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on B shares. DA Davidson boosted their price target on Barnes Group from $45.00 to $48.00 and gave the company a buy rating in a report on Thursday, June 13th. Oppenheimer lifted their price objective on Barnes Group from $43.00 to $48.00 and gave the company an outperform rating in a research report on Friday, June 14th.
Check Out Our Latest Report on Barnes Group
Barnes Group Trading Down 2.4 %
Barnes Group (NYSE:B – Get Free Report) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $382.23 million for the quarter, compared to analyst estimates of $398.80 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. As a group, research analysts forecast that Barnes Group will post 1.72 earnings per share for the current year.
Barnes Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be issued a $0.16 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.56%. Barnes Group’s dividend payout ratio (DPR) is 711.11%.
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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