Belden Inc (BDC) Scheduled to Post Quarterly Earnings on Wednesday
Belden Inc (NYSE:BDC) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $1.42 per share for the quarter. Belden has set its Q3 guidance at $1.35-1.45 EPS and its FY17 guidance at $5.35-5.55 EPS.
Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. Belden had a return on equity of 16.31% and a net margin of 5.53%. The company had revenue of $610.63 million for the quarter, compared to the consensus estimate of $608.16 million. During the same quarter in the previous year, the business earned $1.54 EPS. Belden’s revenue was up 1.5% compared to the same quarter last year. On average, analysts expect Belden to post $5.46 EPS for the current fiscal year and $6.05 EPS for the next fiscal year.
Belden Inc (NYSE:BDC) opened at 83.56 on Wednesday. The stock has a market cap of $3.53 billion, a P/E ratio of 36.33 and a beta of 2.26. The company’s 50-day moving average price is $81.38 and its 200-day moving average price is $75.08. Belden Inc has a one year low of $60.06 and a one year high of $86.31.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, September 14th. Belden’s dividend payout ratio is presently 8.66%.
In related news, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $84.75, for a total value of $1,459,988.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the transaction, the senior vice president now directly owns 4,967 shares in the company, valued at $391,945.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,230 shares of company stock worth $1,775,189. 1.31% of the stock is owned by company insiders.
Several brokerages recently issued reports on BDC. Guggenheim reissued a “buy” rating and set a $90.00 price objective on shares of Belden in a report on Monday, September 25th. Canaccord Genuity reiterated a “buy” rating and set a $83.00 price objective on shares of Belden in a research note on Friday, August 4th. Deutsche Bank AG lifted their price objective on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Belden from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research downgraded shares of Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Belden currently has a consensus rating of “Buy” and an average price target of $85.88.
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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