Barnes Group reports a record quarter as the 151-year old aerospace and industrial company takes advantage of globalization to grow sales. The company has surprised on estimates three out of the last four quarters on average of 7.37%. Barnes Group has a forward P/E of 12.04.
Barnes Group, Inc. ( B ) is an international aerospace and industrial components manufacturer and full-service distribution company that was founded in 1857 as a single metal parts shop and has grown to 65 locations around the globe.
Barnes Distribution is a distributor of maintenance, repair, operating and production supplies. It provides a wide variety of high-volume replacement parts and other products, as well as inventory management and logistics services, to a diverse customer base.
Barnes Industrial is an industrial components manufacturer of a broad range of products for an assorted customer base. The Barnes Industrial business segment consists of six divisions: Precision Forming; Retention Rings; Nitrogen Gas Products; Precision Valves; Engineered Springs; and Plastics.
Full-Year Guidance Raised
Given the increase in demand, the company raised earnings forecasts for the year to the range of $2.30 to $2.39 per share from $2.20 to $2.30 per share. Barnes is anticipating an increase of 31% to 36% from 2007's reported results.
Barnes expects the Aerospace segments's operation margins to rise to the range of 20.0% to 21.0%, up from 18.9% in 2007. The recently announced delays of the Boeing 787 Dreamliner have also been considered in the 2008 outlook.
Barnes' 2008 P/E is 12.04. Its price-to-book is 2.26. The company's average five year return on equity (ROE) is a solid 13.58%. In addition, Barnes Group has a dividend yield of 2.00%.
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$29.36 (05/08/08)
