Equities analysts predict that Belden Inc. (NYSE:BDC) will post sales of $643.82 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Belden’s earnings. The highest sales estimate is $646.63 million and the lowest is $640.94 million. Belden posted sales of $668.64 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.7%. The firm is scheduled to announce its next earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that Belden will report full year sales of $2.56 billion for the current year, with estimates ranging from $2.55 billion to $2.56 billion. For the next year, analysts anticipate that the company will post sales of $2.62 billion, with estimates ranging from $2.61 billion to $2.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Belden.
Belden (NYSE:BDC) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.10. The firm had revenue of $587.18 million for the quarter, compared to analyst estimates of $577.17 million. Belden had a return on equity of 20.17% and a net margin of 7.15%. Belden’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 earnings per share.
Several research firms have commented on BDC. TheStreet lowered Belden from a “b-” rating to a “c+” rating in a research report on Friday, March 29th. ValuEngine upgraded Belden from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Zacks Investment Research upgraded Belden from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.18.
A number of institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its stake in shares of Belden by 0.3% during the 1st quarter. New York State Common Retirement Fund now owns 74,189 shares of the industrial products company’s stock worth $3,984,000 after buying an additional 233 shares during the period. Public Employees Retirement System of Ohio raised its stake in Belden by 12.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 244 shares during the last quarter. Texas Permanent School Fund raised its stake in Belden by 1.4% in the 1st quarter. Texas Permanent School Fund now owns 26,751 shares of the industrial products company’s stock valued at $1,437,000 after purchasing an additional 376 shares during the last quarter. Neuburgh Advisers LLC raised its stake in Belden by 12.1% in the 4th quarter. Neuburgh Advisers LLC now owns 3,840 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 416 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Belden by 0.9% in the 1st quarter. Clearbridge Investments LLC now owns 48,073 shares of the industrial products company’s stock valued at $2,582,000 after purchasing an additional 445 shares during the last quarter.
Shares of NYSE BDC opened at $56.37 on Thursday. The firm has a 50 day moving average price of $56.41. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.57 and a beta of 2.46. Belden has a 52 week low of $37.79 and a 52 week high of $76.39. The company has a current ratio of 1.97, a quick ratio of 1.40 and a debt-to-equity ratio of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Wednesday, June 19th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.20 annualized dividend and a yield of 0.35%. Belden’s dividend payout ratio is presently 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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