Equities research analysts expect Belden (NYSE:BDC) to report sales of $585.75 million for the current quarter, according to Zacks. Five analysts have provided estimates for Belden’s earnings, with the lowest sales estimate coming in at $585.00 million and the highest estimate coming in at $587.00 million. Belden reported sales of $551.38 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.2%. The company is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, May 2nd.
On average, analysts expect that Belden will report full year sales of $2.55 billion for the current year, with estimates ranging from $2.54 billion to $2.57 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.63 billion per share, with estimates ranging from $2.60 billion to $2.66 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Belden.
Belden (NYSE:BDC) last issued its earnings results on Thursday, February 1st. The industrial products company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.15). The firm had revenue of $604.88 million during the quarter, compared to analyst estimates of $648.92 million. Belden had a net margin of 3.90% and a return on equity of 18.20%. Belden’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 earnings per share.
Several brokerages have recently commented on BDC. Zacks Investment Research cut shares of Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Stifel Nicolaus restated a “buy” rating and issued a $90.00 target price on shares of Belden in a research report on Friday, March 30th. ValuEngine cut shares of Belden from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Cross Research upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, SunTrust Banks upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, March 26th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $91.83.
In related news, SVP Ross Rosenberg sold 779 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $75.00, for a total transaction of $58,425.00. Following the completion of the transaction, the senior vice president now directly owns 5,329 shares in the company, valued at approximately $399,675. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.34% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BDC. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Belden by 41.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 718 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Belden in the 4th quarter valued at approximately $197,000. Zeke Capital Advisors LLC acquired a new position in Belden in the 4th quarter valued at approximately $202,000. Ladenburg Thalmann Financial Services Inc. increased its position in Belden by 550.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 2,229 shares during the period. Finally, OxFORD Asset Management LLP acquired a new position in Belden in the 3rd quarter valued at approximately $224,000.
Shares of NYSE:BDC traded down $0.77 during midday trading on Monday, hitting $67.81. The stock had a trading volume of 339,169 shares, compared to its average volume of 403,702. The stock has a market capitalization of $2,875.60, a PE ratio of 12.67 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.58 and a debt-to-equity ratio of 1.09. Belden has a fifty-two week low of $64.51 and a fifty-two week high of $87.14.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, March 14th. Belden’s dividend payout ratio is 3.74%.
Belden Company Profile
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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