Belden Inc (BDC) Receives Consensus Rating of “Buy” from Brokerages
Shares of Belden Inc (NYSE:BDC) have earned an average recommendation of “Buy” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $85.88.
BDC has been the topic of a number of research analyst reports. Guggenheim initiated coverage on shares of Belden in a research report on Tuesday, July 11th. They set a “buy” rating and a $90.00 price objective on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Belden in a research report on Friday, June 23rd. They set a “buy” rating and a $93.00 price objective on the stock. Canaccord Genuity reissued a “buy” rating and set a $83.00 price objective on shares of Belden in a research report on Friday, August 4th. Deutsche Bank AG boosted their price objective on shares of Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, ValuEngine raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th.
Belden (BDC) opened at 79.36 on Friday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 34.50 and a beta of 2.27. Belden has a 52 week low of $60.06 and a 52 week high of $81.33. The company’s 50-day moving average is $74.43 and its 200 day moving average is $72.40.
Belden (NYSE:BDC) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.08. The business had revenue of $610.63 million for the quarter, compared to the consensus estimate of $608.16 million. Belden had a net margin of 5.53% and a return on equity of 16.31%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 EPS. On average, analysts forecast that Belden will post $5.44 EPS for the current fiscal year.
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 outstanding 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 often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 14th. Belden’s dividend payout ratio (DPR) is presently 8.66%.
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Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of 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 buying an additional 160 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Belden by 799.6% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock valued at $143,000 after buying an additional 1,831 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Belden by 60.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock valued at $155,000 after buying an additional 841 shares in the last quarter. World Asset Management Inc bought a new stake in shares of Belden during the 2nd quarter valued at $201,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Belden by 9.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,093 shares of the industrial products company’s stock valued at $214,000 after buying an additional 272 shares in the last quarter.
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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