Barnes Group (NYSE:B) Releases FY 2024 Earnings Guidance

Barnes Group (NYSE:B) 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.

Barnes Group Trading Down 2.4 %

B stock traded down $1.01 on Friday, hitting $41.10. 1,215,012 shares of the company were exchanged, compared to its average volume of 329,397. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.41 and a quick ratio of 1.53. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 456.67, a price-to-earnings-growth ratio of 2.45 and a beta of 1.41. Barnes Group has a twelve month low of $18.79 and a twelve month high of $45.24. The business’s fifty day moving average is $40.30 and its two-hundred day moving average is $37.10.

Barnes Group (NYSE:B) 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.