Belden Inc (BDC) Expected to Post Quarterly Sales of $626.27 Million
Equities analysts expect Belden Inc (NYSE:BDC) to announce $626.27 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Belden’s earnings, with estimates ranging from $625.00 million to $628.08 million. Belden posted sales of $601.11 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.2%. The firm is expected to report its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Belden will report full year sales of $626.27 million for the current fiscal year. For the next year, analysts anticipate that the firm will report sales of $2.51 billion per share, with estimates ranging from $2.47 billion to $2.55 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Belden.
Belden (NYSE:BDC) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.08. The firm had revenue of $610.63 million for the quarter, compared to analyst estimates of $608.16 million. Belden had a net margin of 5.53% and a return on equity of 16.31%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share.
BDC has been the subject of several recent analyst reports. Guggenheim initiated coverage on Belden in a research report on Tuesday, July 11th. They set a “buy” rating and a $90.00 target price for the company. CL King initiated coverage on Belden in a research report on Wednesday, June 21st. They set a “neutral” rating for the company. Goldman Sachs Group, Inc. (The) initiated coverage on Belden in a research report on Friday, June 23rd. They set a “buy” rating and a $93.00 target price for the company. BidaskClub upgraded Belden from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $83.00 price objective on shares of Belden in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $85.88.
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Shares of Belden (NYSE:BDC) traded up 0.35% during trading on Friday, reaching $79.36. 329,814 shares of the company traded hands. The stock’s 50 day moving average price is $74.43 and its 200-day moving average price is $72.40. Belden has a 12 month low of $60.06 and a 12 month high of $81.33. The stock has a market cap of $3.36 billion, a P/E ratio of 34.50 and a beta of 2.27.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, September 14th. Belden’s dividend payout ratio is currently 8.66%.
Belden announced that its board has authorized a stock repurchase program on Thursday, May 25th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 valued at $132,000 after purchasing an additional 160 shares during the last quarter. Point72 Asia Hong Kong Ltd boosted its stake in shares of Belden by 799.6% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock worth $143,000 after buying an additional 1,831 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Belden by 60.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock worth $155,000 after buying an additional 841 shares during the last quarter. World Asset Management Inc purchased a new position in shares of Belden in the 2nd quarter worth $201,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Belden by 9.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,093 shares of the industrial products company’s stock worth $214,000 after buying an additional 272 shares during the last quarter.
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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