Wall Street analysts expect Belden Inc. (NYSE:BDC) to post sales of $633.97 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Belden’s earnings, with the lowest sales estimate coming in at $630.49 million and the highest estimate coming in at $638.20 million. Belden posted sales of $655.77 million during the same quarter last year, which suggests a negative year over year growth rate of 3.3%. The business is scheduled to issue its next earnings report on Wednesday, October 30th.
On average, analysts expect that Belden will report full-year sales of $2.51 billion for the current financial year, with estimates ranging from $2.51 billion to $2.52 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.52 billion, with estimates ranging from $2.50 billion to $2.54 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Belden.
Belden (NYSE:BDC) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.01). The company had revenue of $637.50 million for the quarter, compared to analyst estimates of $641.65 million. Belden had a net margin of 7.76% and a return on equity of 19.29%. Belden’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.52 earnings per share.
Several research firms have weighed in on BDC. ValuEngine lowered shares of Belden from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Stifel Nicolaus decreased their target price on shares of Belden from $70.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of Belden from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, SunTrust Banks decreased their target price on shares of Belden to $54.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $62.58.
In related news, SVP Leo Kulmaczewski bought 800 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average cost of $45.46 per share, with a total value of $36,368.00. Following the completion of the acquisition, the senior vice president now owns 10,692 shares of the company’s stock, valued at approximately $486,058.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BDC. LSV Asset Management boosted its stake in shares of Belden by 194.2% in the first quarter. LSV Asset Management now owns 512,400 shares of the industrial products company’s stock worth $27,515,000 after acquiring an additional 338,236 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Belden by 6.5% in the second quarter. Janus Henderson Group PLC now owns 5,537,725 shares of the industrial products company’s stock worth $329,882,000 after acquiring an additional 338,127 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Belden by 1,386.3% in the second quarter. Renaissance Technologies LLC now owns 261,593 shares of the industrial products company’s stock worth $15,583,000 after acquiring an additional 243,993 shares during the period. AQR Capital Management LLC boosted its stake in shares of Belden by 3,548.0% in the second quarter. AQR Capital Management LLC now owns 207,900 shares of the industrial products company’s stock worth $12,156,000 after acquiring an additional 202,201 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Belden by 899.2% in the second quarter. Nuveen Asset Management LLC now owns 168,795 shares of the industrial products company’s stock worth $10,055,000 after acquiring an additional 151,902 shares during the period. Institutional investors and hedge funds own 95.88% of the company’s stock.
Shares of BDC stock traded up $0.30 during mid-day trading on Tuesday, reaching $53.87. The company’s stock had a trading volume of 7,541 shares, compared to its average volume of 313,783. The company has a market cap of $2.35 billion, a P/E ratio of 8.87 and a beta of 2.40. The firm’s 50-day moving average is $46.96 and its two-hundred day moving average is $54.54. Belden has a 1-year low of $37.79 and a 1-year high of $73.57. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.89.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Thursday, September 19th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Wednesday, September 18th. Belden’s dividend payout ratio is currently 3.30%.
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 segments. 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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