Barnes Group (B) Releases Earnings Results, Beats Expectations By $0.03 EPS

Barnes Group (B) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $0.63 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.60. The company posted revenue of $306.69 million in the period, compared to analysts expectations of $307.72 million. The company’s revenue was down -2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Barnes Group closed down -0.07 points or -0.19% at $36.67 with 1,66,229 shares getting traded on Thursday. Post opening the session at $36.64, the shares hit an intraday low of $36.27 and an intraday high of $36.85 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Investors should note that on Jul 14, 2016, Barnes Group announced a cash dividend of $0.1300. The company’s management has announced Aug 23, 2016 as the ex-dividend date and fixed the record date on Aug 25, 2016. The payable date has been fixed on Sep 9, 2016.

In a different news, on May 31, 2016, Thomas O Barnes (director) sold 350 shares at $33.15 per share price. According to the SEC, on May 25, 2016, Hassell H Mcclellan (director) sold 4,400 shares at $32.98 per share price. On Nov 30, 2015, Marian Acker (VP, Controller) sold 2,621 shares at $38.39 per share price, according to the Form-4 filing with the securities and exchange commission.

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 delivered are used in applications that provide transportation manufacturing healthcare products and technology to the world. The Company operates in segments: Industrial and Aerospace. The Industrial segment is a manufacturer of engineered precision parts products and systems for critical applications. It is a manufacturer and supplier of precision mechanical products including mechanical springs and nitrogen gas products. The Aerospace segment is a provider of precision-machined and fabricated components and assemblies for OEM turbine engine airframe and industrial gas turbine builders and the military. Aerospace provides jet engine component overhaul and repair services for turbine engine manufacturers commercial airlines and the military.

Barnes Group

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