Trade Report: The Oppenheimer Holdings Research Analysts Lift Earnings Estimates for Barnes Group Inc. (B)

The Oppenheimer Holdings Research Analysts Lift Earnings Estimates for Barnes Group Inc. (B)

Barnes Group Inc. (NYSE:B) – Equities researchers at Oppenheimer Holdings raised their FY2016 earnings per share estimates for shares of Barnes Group in a research note issued on Friday. Oppenheimer Holdings analyst C. Glynn now forecasts that the firm will post earnings of $2.51 per share for the year, up from their previous forecast of $2.50. Oppenheimer Holdings also issued estimates for Barnes Group’s Q4 2016 earnings at $0.63 EPS, Q1 2017 earnings at $0.60 EPS, Q2 2017 earnings at $0.71 EPS, Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.68 EPS and FY2017 earnings at $2.70 EPS.

Several other equities research analysts have also recently weighed in on the stock. Jefferies Group upped their price target on shares of Barnes Group from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Wednesday, September 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Barnes Group presently has a consensus rating of “Buy” and a consensus price target of $40.17.

Shares of Barnes Group (NYSE:B) opened at 40.36 on Monday. The company has a market cap of $2.19 billion, a P/E ratio of 17.87 and a beta of 1.47. Barnes Group has a 52-week low of $30.07 and a 52-week high of $41.86. The firm has a 50-day moving average of $39.52 and a 200-day moving average of $36.95.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. The company earned $312 million during the quarter, compared to the consensus estimate of $315.22 million. Barnes Group had a net margin of 10.33% and a return on equity of 12.10%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Wednesday, November 23rd will be given a dividend of $0.13 per share. The ex-dividend date is Monday, November 21st. This represents a $0.52 dividend on an annualized basis and a yield of 1.29%. Barnes Group’s payout ratio is 23.11%.

In other Barnes Group news, SVP Christopher J. Stephens sold 23,039 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $38.76, for a total value of $892,991.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas O. Barnes sold 730 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $41.46, for a total transaction of $30,265.80. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pacad Investment Ltd. bought a new position in Barnes Group during the second quarter worth about $113,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Barnes Group during the second quarter worth $116,000. Quantbot Technologies LP raised its stake in Barnes Group by 59.5% in the second quarter. Quantbot Technologies LP now owns 3,763 shares of the company’s stock worth $124,000 after buying an additional 1,404 shares during the last quarter. BlackRock Inc. raised its stake in Barnes Group by 126.2% in the first quarter. BlackRock Inc. now owns 3,684 shares of the company’s stock worth $129,000 after buying an additional 2,055 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Barnes Group during the second quarter worth $129,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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