Belden (NYSE:BDC) Releases Q2 Earnings Guidance

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Belden from a hold rating to a buy rating in a report on Thursday. Truist Financial lifted 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Belden currently has an average rating of Moderate Buy and a consensus target price of $103.00.

Belden Stock Performance

Shares of Belden stock opened at $88.23 on Friday. 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 PE ratio of 17.27 and a beta of 1.07. The stock’s fifty day moving average is $87.12 and its two-hundred day moving average is $78.23. The company has a quick ratio of 1.72, a current ratio of 2.55 and a debt-to-equity ratio of 1.02.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The company had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Belden’s revenue was down 16.5% compared to the same quarter last year. As a group, analysts expect that Belden will post 5.77 earnings per share for the current year.

Belden Announces Dividend

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

Insider Activity at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction dated Friday, February 23rd. The stock was 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 hyperlink. 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.