Barnes Group (NYSE:B – Get Free Report) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.55-1.75 for the period, compared to the consensus estimate of $1.73. The company issued revenue guidance of +10-12% yr/yr to ~$1.60-1.63 billion, compared to the consensus revenue estimate of $1.65 billion. Barnes Group also updated its FY 2024 guidance to 1.550-1.750 EPS.
Barnes Group Stock Performance
Barnes Group stock traded down $1.01 during trading hours on Friday, reaching $41.10. 1,215,012 shares of the stock were exchanged, compared to its average volume of 329,397. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41. Barnes Group has a 52-week low of $18.79 and a 52-week high of $45.24. The stock has a market cap of $2.08 billion, a P/E ratio of 456.67, a P/E/G ratio of 2.45 and a beta of 1.41. The firm’s 50 day moving average is $40.30 and its 200 day moving average is $37.15.
Barnes Group (NYSE:B – Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $382.23 million for the quarter, compared to analyst estimates of $398.80 million. Barnes Group had a net margin of 0.31% and a return on equity of 5.92%. Analysts predict that Barnes Group will post 1.72 EPS for the current fiscal year.
Barnes Group Announces Dividend
Analyst Upgrades and Downgrades
Several research analysts have commented on B shares. DA Davidson raised their price objective on Barnes Group from $45.00 to $48.00 and gave the company a buy rating in a research report on Thursday, June 13th. Oppenheimer boosted their price objective on shares of Barnes Group from $43.00 to $48.00 and gave the stock an outperform rating in a report on Friday, June 14th.
Get Our Latest Research Report on Barnes Group
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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