Belden (NYSE:BDC) had its target price lowered by stock analysts at Stifel Nicolaus from $63.00 to $60.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 16.46% from the company’s previous close.
BDC has been the subject of several other research reports. ValuEngine raised Belden from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Canaccord Genuity reissued a “hold” rating and set a $52.00 price objective on shares of Belden in a research note on Wednesday, February 5th. Zacks Investment Research raised Belden from a “sell” rating to a “hold” rating in a research note on Tuesday. Cross Research lowered Belden from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Finally, Longbow Research raised Belden from a “neutral” rating to a “buy” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.85.
BDC opened at $51.52 on Thursday. The firm has a market capitalization of $2.31 billion, a P/E ratio of -5.94 and a beta of 2.47. The firm’s 50 day moving average is $53.04 and its 200-day moving average is $51.60. Belden has a 52-week low of $41.50 and a 52-week high of $64.33. The company has a quick ratio of 1.59, a current ratio of 1.91 and a debt-to-equity ratio of 1.55.
Belden (NYSE:BDC) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $549.70 million during the quarter, compared to analyst estimates of $520.73 million. Belden had a negative net margin of 15.74% and a positive return on equity of 17.78%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Equities analysts expect that Belden will post 4.48 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of BDC. American International Group Inc. grew its stake in shares of Belden by 0.3% in the fourth quarter. American International Group Inc. now owns 98,406 shares of the industrial products company’s stock worth $5,412,000 after purchasing an additional 273 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Belden by 10.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,830 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 274 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Belden by 35.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,154 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 303 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Belden by 11.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,435 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 345 shares in the last quarter. Finally, Emerald Advisers LLC bought a new stake in shares of Belden in the 4th quarter worth approximately $32,000.
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 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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