Belden Inc (BDC) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Belden Inc (NYSE:BDC) from a hold rating to a buy rating in a report issued on Monday.

Several other research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Belden from a sell rating to a hold rating in a research report on Saturday, August 26th. Canaccord Genuity restated a buy rating and issued a $83.00 price objective on shares of Belden in a research report on Friday, August 4th. Deutsche Bank AG boosted their price objective on shares of Belden from $85.00 to $92.00 and gave the stock a buy rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Belden from a hold rating to a strong-buy rating and set a $86.00 price objective for the company in a research report on Tuesday, July 11th. Finally, Guggenheim assumed coverage on shares of Belden in a research report on Tuesday, July 11th. They issued a buy rating and a $90.00 price objective for the company. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Belden presently has a consensus rating of Buy and an average price target of $85.88.

Shares of Belden (NYSE:BDC) traded down 0.03% during trading on Monday, reaching $79.06. The company’s stock had a trading volume of 108,902 shares. The company’s 50-day moving average is $74.27 and its 200-day moving average is $72.36. The company has a market capitalization of $3.34 billion, a P/E ratio of 34.37 and a beta of 2.27. Belden has a 12 month low of $60.06 and a 12 month high of $81.33.

Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.08. Belden had a net margin of 5.53% and a return on equity of 16.31%. The firm had revenue of $610.63 million during the quarter, compared to analysts’ expectations of $608.16 million. During the same quarter in the previous year, the company posted $1.54 EPS. Belden’s revenue was up 1.5% on a year-over-year basis. On average, analysts forecast that Belden will post $5.44 EPS for the current fiscal year.

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Belden announced that its board has approved a share repurchase program on Thursday, May 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 14th. Belden’s dividend payout ratio is presently 8.66%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Belden by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 160 shares during the period. Point72 Asia Hong Kong Ltd grew its holdings in Belden by 799.6% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,831 shares during the period. Envestnet Asset Management Inc. grew its holdings in Belden by 60.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 841 shares during the period. World Asset Management Inc acquired a new stake in Belden during the 2nd quarter worth $201,000. Finally, Riverhead Capital Management LLC grew its holdings in Belden by 70.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 1,197 shares during the period.

Belden Company Profile

Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Belden (NYSE:BDC)

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