Belden (BDC) Set to Announce Earnings on Thursday

Belden (NYSE:BDC) is set to announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.05 per share for the quarter. Belden has set its Q1 guidance at $1.00-1.10 EPS and its Q1 2024 guidance at 1.000-1.100 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The company had revenue of $551.24 million during the quarter, compared to the consensus estimate of $522.06 million. During the same period in the prior year, the business earned $1.75 earnings per share. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year. On average, analysts expect Belden to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Belden Price Performance

Shares of NYSE BDC traded down $0.09 during mid-day trading on Tuesday, hitting $84.35. 3,055 shares of the stock traded hands, compared to its average volume of 269,932. The company has a market cap of $3.43 billion, a PE ratio of 14.92 and a beta of 1.04. Belden has a twelve month low of $60.54 and a twelve month high of $99.13. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.30 and a quick ratio of 1.72. The firm has a 50 day simple moving average of $86.89 and a two-hundred day simple moving average of $77.96.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.24%. Belden’s dividend payout ratio is presently 3.53%.

Insider Activity at Belden

In related news, EVP Brian Lieser sold 2,056 shares of the firm’s stock in a transaction that occurred on 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 $1,791,835.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BDC. StockNews.com lowered shares of Belden from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Truist Financial raised their price objective on Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Belden currently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

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.