Belden (NYSE:BDC) Releases Q3 2024 Earnings Guidance

Belden (NYSE:BDC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.550-1.650 for the period, compared to the consensus estimate of 1.630. The company issued revenue guidance of $635.0 million-$650.0 million, compared to the consensus revenue estimate of $629.7 million. Belden also updated its Q3 guidance to $1.55-1.65 EPS.

Belden Trading Up 3.3 %

Shares of NYSE BDC opened at $92.52 on Thursday. The firm has a market capitalization of $3.76 billion, a PE ratio of 18.11 and a beta of 1.05. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. Belden has a one year low of $60.54 and a one year high of $99.07. The business has a 50-day moving average price of $94.28 and a two-hundred day moving average price of $88.19.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The business had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. During the same period last year, the business earned $1.68 EPS. The firm’s revenue was down 16.5% compared to the same quarter last year. As a group, analysts predict that Belden will post 5.85 earnings per share for the current fiscal year.

Belden Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have commented on BDC shares. Benchmark reaffirmed a buy rating and issued a $100.00 price target on shares of Belden in a research report on Monday, May 6th. Loop Capital boosted their price objective on Belden from $100.00 to $115.00 and gave the company a buy rating in a research report on Friday, May 17th. Vertical Research began coverage on Belden in a research report on Tuesday, July 23rd. They set a buy rating and a $110.00 price objective on the stock. StockNews.com upgraded Belden from a hold rating to a buy rating in a research report on Monday, June 17th. Finally, Truist Financial boosted their price objective on Belden from $119.00 to $123.00 and gave the company a buy rating in a research report on Friday, July 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $109.00.

Insiders Place Their Bets

In other news, EVP Brian Lieser sold 819 shares of the business’s 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 completion of the sale, the executive vice president now owns 21,031 shares in the company, valued at $1,919,289.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Jonathan C. Klein sold 1,607 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total transaction of $156,345.03. Following the completion of the sale, the director now owns 12,097 shares in the company, valued at $1,176,917.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the sale, the executive vice president now owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,219 shares of company stock valued at $986,641. 1.59% of the stock is currently owned by corporate 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.