Even After Rising 4.5% This Past Week, Barnes Group (NYSE:B) Shareholders Are Still Down 14% Over the Past Three Years
Even After Rising 4.5% This Past Week, Barnes Group (NYSE:B) Shareholders Are Still Down 14% Over the Past Three Years
Many investors define successful investing as beating the market average over the long term. But the risk of stock picking is that you will likely buy under-performing companies. We regret to report that long term Barnes Group Inc. (NYSE:B) shareholders have had that experience, with the share price dropping 19% in three years, versus a market return of about 20%.
许多投资者将成功投资定义为长期打败市场平均水平。但选股的风险在于你可能会购买表现不佳的公司。我们很遗憾地报告说,长期持有巴恩斯集团股份的股东(NYSE:B)已经有过这种经历,在三年内股价下跌了19%,而市场回报率约为20%。
While the last three years has been tough for Barnes Group shareholders, this past week has shown signs of promise. So let's look at the longer term fundamentals and see if they've been the driver of the negative returns.
虽然过去的三年对巴恩斯集团的股东来说很艰难,但过去一周已经显示出了希望的迹象。因此,让我们来看看更长期的基本面情况,看看它们是否是负回报的驱动力。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
在他的《格雷厄姆和道德斯维尔的超级投资者》一文中,沃伦·巴菲特描述了股价并不总是合理反映企业价值的方法。检验市场情绪如何随时间变化的一种方法是观察公司股价和每股收益(EPS)之间的互动关系。
Over the three years that the share price declined, Barnes Group's earnings per share (EPS) dropped significantly, falling to a loss. Extraordinary items contributed to this situation. Due to the loss, it's not easy to use EPS as a reliable guide to the business. However, we can say we'd expect to see a falling share price in this scenario.
在股价下跌的三年里,巴恩斯集团的每股收益(EPS)大幅下降,降至亏损。非常规项目造成了这种情况。由于亏损,很难使用EPS作为可靠的业务指导。然而,在这种情况下我们可以说我们预计会看到股价下跌。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下图显示了EPS随时间的变化情况(如果您单击该图像,则可以查看更多详细信息)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240820/0-ad443854f8c09fff43f8a9e5060fe125-0-ddacff5f8a2ee56de0e76610116cc5c1.png/big)
We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. This free interactive report on Barnes Group's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
我们认为内部人员在过去一年中进行了重大买入,这是积极的。即便如此,未来盈利将对当前股东是否赚钱更为重要。如果您想进一步调查该股票,巴恩斯集团的盈利、营业收入和现金流的这份免费互动报告是一个很好的起点。
What About Dividends?
那么分红怎么样呢?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Barnes Group's TSR for the last 3 years was -14%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
除了衡量股价回报之外,投资者还应考虑股东的总回报(TSR)。TSR包括任何分拆价值或折价资本募集的价值以及任何分红,假设股息再投资。可以说,TSR给出了股票产生的回报的更全面的图片。巴恩斯集团过去3年的TSR为-14%,超过了前面提到的股价回报率。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的观点
Barnes Group shareholders are up 3.5% for the year (even including dividends). But that return falls short of the market. On the bright side, that's still a gain, and it is certainly better than the yearly loss of about 0.8% endured over half a decade. So this might be a sign the business has turned its fortunes around. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that Barnes Group is showing 2 warning signs in our investment analysis , you should know about...
巴恩斯集团的股东今年收益率为3.5%(包括分红)。但这一回报率还是低于市场平均水平。好消息是那仍然是一个收益,而且肯定比过去五年中遭受的约0.8%的年度亏损要好。因此,这可能是业务扭转命运的迹象。尽管考虑市场条件对股价的影响很值得,但还有其他更重要的因素。即便如此,要知道巴恩斯集团在我们的投资分析中显示了2个警告信号,你应该知道其中的情况。
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
还有很多其他的公司,公司的内部人士正在购买股票。你可能不想错过这个免费的小市值公司的低估列表。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文所引述的市场回报反映了目前在美国交易所上市的股票的市场加权平均回报。
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