Belden (NYSE:BDC) Issues Q2 Earnings Guidance

Belden (NYSE:BDC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $1.30-1.40 for the period, compared to the consensus EPS estimate of $1.35.

Belden Stock Down 0.8 %

NYSE BDC opened at $88.23 on Friday. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07. Belden has a 1-year low of $60.54 and a 1-year high of $99.13. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average of $87.12 and a 200-day moving average of $78.23.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The business had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. During the same quarter in the previous year, the firm earned $1.68 earnings per share. Belden’s revenue for the quarter was down 16.5% compared to the same quarter last year. On average, equities research analysts expect that Belden will post 5.77 earnings per share for the current fiscal year.

Belden Dividend Announcement

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

Analyst Upgrades and Downgrades

BDC has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of Belden from $98.00 to $101.00 and gave the company a buy rating in a research report on Friday. StockNews.com raised Belden from a hold rating to a buy rating in a report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Belden has a consensus rating of Moderate Buy and an average price target of $103.00.

Insider Buying and Selling

In other news, EVP Brian Lieser sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.59% of the stock is currently owned by insiders.

About Belden

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.