Zacks: Analysts Expect Belden Inc (BDC) Will Announce Quarterly Sales of $608.00 Million
Brokerages expect that Belden Inc (NYSE:BDC) will announce sales of $608.00 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Belden’s earnings, with the highest sales estimate coming in at $609.35 million and the lowest estimate coming in at $605.00 million. Belden reported sales of $601.63 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.1%. The company is scheduled to issue its next earnings report before the market opens on Wednesday, August 2nd.
On average, analysts expect that Belden will report full-year sales of $608.00 million for the current year, with estimates ranging from $2.39 billion to $2.42 billion. For the next year, analysts anticipate that the company will report sales of $2.48 billion per share, with estimates ranging from $2.46 billion to $2.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Belden.
Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Belden had a net margin of 5.80% and a return on equity of 18.25%. The firm had revenue of $551.40 million for the quarter, compared to analysts’ expectations of $551.14 million. During the same period in the previous year, the company posted $1.01 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Belden from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price target for the company in a research note on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) started coverage on shares of Belden in a research note on Friday, June 23rd. They issued a “buy” rating and a $93.00 price target for the company. CL King started coverage on shares of Belden in a research note on Wednesday, June 21st. They issued a “neutral” rating for the company. Finally, Guggenheim initiated coverage on shares of Belden in a research note on Tuesday, July 11th. They set a “buy” rating and a $90.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Belden currently has a consensus rating of “Buy” and a consensus price target of $83.78.
Hedge funds have recently bought and sold shares of the company. RMB Capital Management LLC raised its stake in Belden by 0.3% in the first quarter. RMB Capital Management LLC now owns 17,234 shares of the industrial products company’s stock valued at $1,192,000 after buying an additional 60 shares during the last quarter. State Treasurer State of Michigan raised its position in Belden by 0.6% in the first quarter. State Treasurer State of Michigan now owns 17,100 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Belden by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 24,210 shares of the industrial products company’s stock valued at $1,803,000 after buying an additional 100 shares during the last quarter. Capstone Asset Management Co. raised its position in Belden by 4.2% in the second quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company’s stock valued at $262,000 after buying an additional 140 shares during the last quarter. Finally, Greenwood Capital Associates LLC raised its position in Belden by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 2,975 shares of the industrial products company’s stock valued at $206,000 after buying an additional 149 shares during the last quarter.
Belden (NYSE BDC) traded up 1.21% during trading on Friday, reaching $76.02. 208,923 shares of the company’s stock traded hands. The company has a market cap of $3.21 billion, a P/E ratio of 28.60 and a beta of 2.30. Belden has a 12 month low of $60.06 and a 12 month high of $81.33. The firm’s 50 day moving average is $75.45 and its 200 day moving average is $72.75.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. Belden’s dividend payout ratio (DPR) is presently 7.55%.
Belden announced that its Board of Directors has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Belden Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden Inc and related companies with MarketBeat.com's FREE daily email newsletter.