Belden (NYSE:BDC) Updates 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Belden from a buy rating to a hold rating in a research report on Monday, April 22nd. Truist Financial lifted their price target on shares of Belden from $89.00 to $98.00 and gave the company a buy rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $102.25.

Belden Trading Up 0.1 %

Shares of Belden stock opened at $81.34 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.30 and a quick ratio of 1.72. Belden has a 1 year low of $60.54 and a 1 year high of $99.13. The company has a market capitalization of $3.31 billion, a P/E ratio of 14.37 and a beta of 1.07. The business has a 50 day moving average price of $86.91 and a 200 day moving average price of $78.03.

Belden (NYSE:BDC) last issued its quarterly earnings data 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 return on equity of 25.11% and a net margin of 9.66%. The firm had revenue of $551.24 million during the quarter, compared to the consensus estimate of $522.06 million. During the same period in the previous year, the firm posted $1.75 EPS. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. Sell-side analysts anticipate that Belden will post 5.33 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Belden’s dividend payout ratio is presently 3.53%.

Insider Activity

In related news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction 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 directly owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.59% of the company’s stock.

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.