Brokers Issue Forecasts for Barnes Group, Inc.’s FY2017 Earnings (B)

Barnes Group, Inc. (NYSE:B) – Stock analysts at Oppenheimer Holdings upped their FY2017 EPS estimates for Barnes Group in a report released on Friday. Oppenheimer Holdings analyst C. Glynn now anticipates that the industrial products company will earn $2.86 per share for the year, up from their previous estimate of $2.85. Oppenheimer Holdings currently has a “Outperform” rating and a $67.00 target price on the stock. Oppenheimer Holdings also issued estimates for Barnes Group’s Q4 2017 earnings at $0.68 EPS, Q1 2018 earnings at $0.67 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.78 EPS and Q4 2018 earnings at $0.81 EPS.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The business had revenue of $357.16 million for the quarter, compared to analysts’ expectations of $351.01 million. During the same period in the prior year, the business posted $0.71 earnings per share. The business’s quarterly revenue was up 14.6% compared to the same quarter last year.

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A number of other research analysts have also recently issued reports on B. Robert W. Baird reissued a “hold” rating and issued a $65.00 target price on shares of Barnes Group in a research note on Sunday. ValuEngine lowered Barnes Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub upgraded Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Deutsche Bank AG upped their target price on Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and set a $60.00 target price on shares of Barnes Group in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $65.60.

Barnes Group (NYSE:B) traded down 1.15% during trading on Monday, reaching $64.34. 34,814 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $69.53 and a 200-day moving average of $61.10. Barnes Group has a 52 week low of $37.95 and a 52 week high of $72.87. The stock has a market capitalization of $3.46 billion, a PE ratio of 22.50 and a beta of 1.45.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, November 21st. Barnes Group’s payout ratio is 19.72%.

In related news, Director Thomas O. Barnes sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total transaction of $119,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of B. Chicago Equity Partners LLC acquired a new position in Barnes Group during the 3rd quarter valued at about $1,386,000. Foundry Partners LLC lifted its position in shares of Barnes Group by 2.8% during the 3rd quarter. Foundry Partners LLC now owns 270,534 shares of the industrial products company’s stock worth $19,056,000 after buying an additional 7,403 shares in the last quarter. Palisade Capital Management LLC NJ lifted its position in shares of Barnes Group by 1.9% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 397,866 shares of the industrial products company’s stock worth $28,026,000 after buying an additional 7,367 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its position in shares of Barnes Group by 4,461.8% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after buying an additional 1,517 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Barnes Group during the 3rd quarter worth approximately $390,000. Hedge funds and other institutional investors own 87.57% of the company’s stock.

About Barnes Group

Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.

Earnings History and Estimates for Barnes Group (NYSE:B)

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