Belden Receives Buy Rating from SunTrust (BDC)
Belden (NYSE:BDC)‘s stock had its “buy” rating reaffirmed by analysts at SunTrust in a research report issued to clients and investors on Thursday. They currently have a $92.00 price objective on the stock, up from their previous price objective of $91.00. SunTrust’s target price would indicate a potential upside of 35.49% from the company’s current price.
A number of other analysts have also recently weighed in on BDC. Analysts at Zacks downgraded shares of Belden from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $81.80 price target on the stock. Separately, analysts at DA Davidson reiterated a “neutral” rating on shares of Belden in a research note on Friday, May 2nd. They now have a $75.00 price target on the stock. Finally, analysts at Davidson raised their price target on shares of Belden from $68.00 to $75.00 in a research note on Friday, May 2nd. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Belden presently has an average rating of “Hold” and a consensus target price of $80.76.
Belden (NYSE:BDC) traded down 5.44% on Thursday, hitting $67.90. 540,085 shares of the company’s stock traded hands. Belden has a 1-year low of $55.64 and a 1-year high of $79.30. The stock’s 50-day moving average is $76.50 and its 200-day moving average is $72.31. The company has a market cap of $2.961 billion and a P/E ratio of 30.20.
Belden (NYSE:BDC) last announced its earnings results on Wednesday, July 30th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.01 by $0.04. The company had revenue of $605.10 million for the quarter, compared to the consensus estimate of $595.60 million. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts predict that Belden will post $4.21 earnings per share for the current fiscal year.
Belden Inc (NYSE:BDC) designs, manufactures and markets cable, connectivity, and networking products in markets including industrial, enterprise, and broadcast.
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