Belden Inc (BDC) Given Average Recommendation of “Buy” by Brokerages
Belden Inc (NYSE:BDC) has been given an average rating of “Buy” by the twelve research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $83.78.
Several equities analysts have recently weighed in on BDC shares. Zacks Investment Research upgraded Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 target price on the stock in a research report on Tuesday, July 11th. ValuEngine cut Belden from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. CL King started coverage on Belden in a report on Wednesday, June 21st. They issued a “neutral” rating for the company. Guggenheim started coverage on Belden in a report on Tuesday, July 11th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Goldman Sachs Group, Inc. (The) started coverage on Belden in a report on Friday, June 23rd. They issued a “buy” rating and a $93.00 price target for the company.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can raised its position in Belden by 3.6% in the second quarter. Great West Life Assurance Co. Can now owns 25,691 shares of the industrial products company’s stock worth $1,936,000 after buying an additional 903 shares during the period. NGAM Advisors L.P. increased its stake in shares of Belden by 0.5% in the second quarter. NGAM Advisors L.P. now owns 39,495 shares of the industrial products company’s stock worth $2,979,000 after buying an additional 207 shares during the period. Strs Ohio increased its stake in shares of Belden by 1,207.1% in the second quarter. Strs Ohio now owns 54,900 shares of the industrial products company’s stock worth $4,141,000 after buying an additional 50,700 shares during the period. ING Groep NV acquired a new stake in shares of Belden during the second quarter worth about $388,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Belden by 22.1% in the second quarter. Russell Investments Group Ltd. now owns 20,097 shares of the industrial products company’s stock worth $1,515,000 after buying an additional 3,643 shares during the period.
Shares of Belden (NYSE:BDC) opened at 73.70 on Friday. The firm has a 50-day moving average price of $75.65 and a 200-day moving average price of $72.72. Belden has a 1-year low of $60.06 and a 1-year high of $81.33. The company has a market cap of $3.12 billion, a P/E ratio of 27.73 and a beta of 2.30.
Belden (NYSE:BDC) last released its earnings results on Wednesday, May 3rd. The industrial products company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $551.40 million for the quarter, compared to the consensus estimate of $551.14 million. Belden had a return on equity of 18.25% and a net margin of 5.80%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share. On average, equities analysts expect that Belden will post $5.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, June 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. Belden’s dividend payout ratio (DPR) is presently 7.55%.
Belden declared that its board has initiated a share buyback plan on Thursday, May 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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