Belden (NYSE:BDC) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Belden (NYSE:BDC) issued its quarterly earnings results on Thursday. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.14, Briefing.com reports. The company had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period last year, the business earned $1.91 EPS. Belden updated its Q3 2024 guidance to 1.550-1.650 EPS and its Q3 guidance to $1.55-1.65 EPS.

Belden Stock Performance

BDC stock traded down $1.17 during trading hours on Friday, hitting $99.35. 625,746 shares of the stock were exchanged, compared to its average volume of 272,832. The company has a current ratio of 1.70, a quick ratio of 1.83 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.04 billion, a P/E ratio of 19.44 and a beta of 1.06. The company has a 50-day simple moving average of $94.40 and a two-hundred day simple moving average of $88.57. Belden has a 12 month low of $60.54 and a 12 month high of $102.47.

Belden Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on BDC shares. Benchmark increased their price objective on Belden from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday. Loop Capital increased their price objective on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 17th. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Truist Financial raised their price target on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a report on Friday. Finally, Vertical Research initiated coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Belden has an average rating of “Moderate Buy” and a consensus target price of $111.67.

Insiders Place Their Bets

In other Belden news, EVP Brian Lieser sold 819 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total transaction of $74,741.94. Following the transaction, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jonathan C. Klein sold 1,093 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total value of $104,381.50. Following the transaction, the director now owns 13,704 shares in the company, valued at $1,308,732. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The disclosure for this sale can be found here. Insiders have sold 10,219 shares of company stock worth $986,641 in the last 90 days. 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.