Wall Street brokerages expect Belden Inc. (NYSE:BDC) to post sales of $495.62 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Belden’s earnings. The lowest sales estimate is $494.24 million and the highest is $497.00 million. Belden posted sales of $463.53 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The firm is expected to announce its next quarterly earnings results on Wednesday, May 5th.
On average, analysts expect that Belden will report full-year sales of $2.02 billion for the current year, with estimates ranging from $2.01 billion to $2.04 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.03 billion, with estimates ranging from $1.97 billion to $2.08 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Belden.
Belden (NYSE:BDC) last issued its quarterly earnings data on Tuesday, February 9th. The industrial products company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.13. Belden had a positive return on equity of 15.55% and a negative net margin of 10.95%. The company had revenue of $498.50 million during the quarter, compared to analyst estimates of $481.81 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. Belden’s revenue was down 9.3% compared to the same quarter last year.
Several analysts recently commented on the company. Truist lifted their price objective on Belden from $41.00 to $50.00 in a report on Wednesday, December 16th. Zacks Investment Research lowered Belden from a “buy” rating to a “hold” rating in a report on Monday, February 15th. Finally, Canaccord Genuity boosted their price target on Belden from $46.00 to $47.00 and gave the company a “hold” rating in a report on Thursday, February 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $44.95.
Shares of BDC traded down $0.58 during trading hours on Thursday, hitting $43.92. The stock had a trading volume of 11,924 shares, compared to its average volume of 343,269. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.20 and a quick ratio of 1.66. Belden has a 12 month low of $25.54 and a 12 month high of $54.80. The firm has a market capitalization of $1.96 billion, a PE ratio of -9.41 and a beta of 1.57. The stock has a fifty day moving average price of $46.10 and a 200 day moving average price of $38.32.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 7th. Investors of record on Friday, March 12th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. Belden’s dividend payout ratio is currently 4.42%.
In other Belden news, Chairman John S. Stroup sold 7,417 shares of the business’s stock in a transaction that occurred on Thursday, December 17th. The stock was sold at an average price of $40.22, for a total transaction of $298,311.74. Following the sale, the chairman now directly owns 92,253 shares of the company’s stock, valued at $3,710,415.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judy L. Brown sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 16th. The stock was sold at an average price of $41.39, for a total value of $165,560.00. Following the sale, the director now directly owns 22,258 shares in the company, valued at $921,258.62. The disclosure for this sale can be found here. Insiders sold 13,093 shares of company stock worth $531,146 over the last quarter. 1.21% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BDC. First Trust Advisors LP increased its stake in Belden by 195.4% during the first quarter. First Trust Advisors LP now owns 41,284 shares of the industrial products company’s stock worth $2,217,000 after acquiring an additional 27,308 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Belden by 15.6% during the third quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the industrial products company’s stock worth $345,000 after acquiring an additional 1,500 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Belden during the third quarter worth approximately $286,000. Nisa Investment Advisors LLC grew its stake in shares of Belden by 6.3% during the third quarter. Nisa Investment Advisors LLC now owns 20,400 shares of the industrial products company’s stock valued at $635,000 after buying an additional 1,200 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Belden by 16.4% during the third quarter. Retirement Systems of Alabama now owns 58,119 shares of the industrial products company’s stock valued at $1,809,000 after buying an additional 8,192 shares during the last quarter.
Belden Company Profile
Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.
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