Belden (NYSE:BDC) Issues Earnings Results

Belden (NYSE:BDC) posted its quarterly earnings data on Thursday. The industrial products company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.19, Briefing.com reports. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company had revenue of $536.00 million during the quarter, compared to analyst estimates of $514.27 million. During the same quarter last year, the business posted $1.68 earnings per share. The company’s revenue was down 16.5% on a year-over-year basis. Belden updated its Q2 guidance to $1.30-1.40 EPS.

Belden Price Performance

BDC traded down $0.68 during midday trading on Friday, hitting $88.23. 278,817 shares of the company traded hands, compared to its average volume of 234,599. Belden has a 52-week low of $60.54 and a 52-week high of $99.13. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07. The business has a 50 day simple moving average of $87.12 and a two-hundred day simple moving average of $78.22. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 1.02.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio (DPR) is currently 3.91%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of Belden from $98.00 to $101.00 and gave the company a “buy” rating in a report on Friday. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.00.

Insider Buying and Selling at Belden

In other news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total value of $169,208.80. Following the transaction, the executive vice president now directly owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.59% of the company’s stock.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.