Belden (NYSE:BDC) Releases Q3 Earnings Guidance

Belden (NYSE:BDC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.55-1.65 for the period, compared to the consensus estimate of $1.63. The company issued revenue guidance of $635-650 million, compared to the consensus revenue estimate of $629.71 million. Belden also updated its Q3 2024 guidance to 1.550-1.650 EPS.

Belden Stock Up 3.3 %

BDC stock opened at $92.52 on Thursday. The stock has a market capitalization of $3.76 billion, a P/E ratio of 18.11 and a beta of 1.05. The firm has a 50-day simple moving average of $94.28 and a 200-day simple moving average of $88.19. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. Belden has a 52 week low of $60.54 and a 52 week high of $99.07.

Belden (NYSE:BDC) last released its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. The business had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 earnings per share. Equities analysts forecast that Belden will post 5.85 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Thursday, June 13th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.20 annualized dividend and a yield of 0.22%. Belden’s dividend payout ratio is presently 3.91%.

Wall Street Analysts Forecast Growth

BDC has been the subject of several research reports. Loop Capital upped their price objective on shares of Belden from $100.00 to $115.00 and gave the company a buy rating in a research note on Friday, May 17th. StockNews.com raised shares of Belden from a hold rating to a buy rating in a research note on Monday, June 17th. Truist Financial upped their price objective on shares of Belden from $119.00 to $123.00 and gave the company a buy rating in a research note on Friday, July 5th. Benchmark reissued a buy rating and issued a $100.00 price target on shares of Belden in a research note on Monday, May 6th. Finally, Vertical Research initiated coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a buy rating and a $110.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $109.00.

Insider Activity

In related news, EVP Brian Lieser sold 819 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the transaction, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director David J. Aldrich sold 6,700 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $97.19, for a total value of $651,173.00. Following the transaction, the director now directly owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Lieser sold 819 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at $1,919,289.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,219 shares of company stock worth $986,641. 1.59% of the stock is currently owned by corporate insiders.

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.