Wall Street brokerages expect that Belden Inc. (NYSE:BDC) will report $677.30 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Belden’s earnings. The lowest sales estimate is $665.70 million and the highest is $681.00 million. Belden reported sales of $621.75 million in the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The business is expected to report its next earnings report before the market opens on Wednesday, October 31st.
According to Zacks, analysts expect that Belden will report full year sales of $2.66 billion for the current year, with estimates ranging from $2.63 billion to $2.67 billion. For the next financial year, analysts forecast that the business will post sales of $2.71 billion, with estimates ranging from $2.66 billion to $2.75 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Belden.
Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.46 by $0.06. Belden had a net margin of 2.52% and a return on equity of 20.50%. The firm had revenue of $668.64 million during the quarter, compared to analyst estimates of $661.83 million. During the same quarter in the prior year, the business posted $1.29 earnings per share. Belden’s revenue for the quarter was up 9.5% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Belden in a research report on Wednesday, August 1st. Canaccord Genuity reissued a “buy” rating and issued a $88.00 price objective on shares of Belden in a research report on Wednesday, August 22nd. Zacks Investment Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. TheStreet raised shares of Belden from a “c” rating to a “b-” rating in a research report on Tuesday, August 21st. Finally, ValuEngine raised shares of Belden from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $86.75.
Shares of BDC stock opened at $62.14 on Tuesday. Belden has a one year low of $53.65 and a one year high of $87.14. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 1.10. The company has a market cap of $2.54 billion, a P/E ratio of 10.79 and a beta of 2.28.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Stockholders of record on Tuesday, September 18th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, September 17th. Belden’s payout ratio is currently 3.74%.
Several institutional investors have recently added to or reduced their stakes in the company. Strs Ohio increased its position in shares of Belden by 1.4% in the third quarter. Strs Ohio now owns 72,200 shares of the industrial products company’s stock worth $5,155,000 after acquiring an additional 1,000 shares in the last quarter. Foundry Partners LLC grew its holdings in Belden by 2.5% during the 3rd quarter. Foundry Partners LLC now owns 99,601 shares of the industrial products company’s stock valued at $7,113,000 after purchasing an additional 2,407 shares in the last quarter. First Hawaiian Bank acquired a new stake in Belden during the 3rd quarter valued at $159,000. Fox Run Management L.L.C. acquired a new stake in Belden during the 3rd quarter valued at $271,000. Finally, United Services Automobile Association grew its holdings in Belden by 20.9% during the 2nd quarter. United Services Automobile Association now owns 321,026 shares of the industrial products company’s stock valued at $19,621,000 after purchasing an additional 55,560 shares in the last quarter.
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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