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).
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