Belden Inc (BDC) Set to Announce Earnings on Wednesday
Belden Inc (NYSE:BDC) will be releasing its earnings data before the market opens on Wednesday, August 2nd. Analysts expect Belden to post earnings of $1.21 per share for the quarter. Belden has set its Q2 guidance at $1.15-$1.25 EPS and its FY17 guidance at $4.95-$5.20 EPS.
Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $551.40 million for the quarter, compared to analysts’ expectations of $551.14 million. Belden had a net margin of 5.80% and a return on equity of 18.25%. Belden’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, analysts expect Belden to post $5.26 EPS for the current fiscal year and $5.79 EPS for the next fiscal year.
Belden Inc (NYSE:BDC) opened at 77.35 on Wednesday. The firm has a 50-day moving average of $75.45 and a 200 day moving average of $72.75. Belden Inc has a 52 week low of $60.06 and a 52 week high of $81.33. The firm has a market capitalization of $3.27 billion, a PE ratio of 29.10 and a beta of 2.30.
Belden declared that its Board of Directors has initiated a stock buyback program on Thursday, May 25th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, June 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.26%. The ex-dividend date was Tuesday, June 13th. Belden’s dividend payout ratio (DPR) is presently 7.55%.
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BDC has been the topic of several research analyst reports. Zacks Investment Research upgraded Belden from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Goldman Sachs Group, Inc. (The) initiated coverage on Belden in a research note on Friday, June 23rd. They issued a “buy” rating and a $93.00 target price on the stock. CL King initiated coverage on Belden in a research note on Wednesday, June 21st. They issued a “neutral” rating on the stock. ValuEngine cut Belden from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Guggenheim initiated coverage on Belden in a research note on Tuesday, July 11th. They issued a “buy” rating and a $90.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Belden currently has an average rating of “Buy” and an average price target of $83.78.
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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