Belden Inc (BDC) Announces Earnings Results, Beats Estimates By $0.08 EPS
Belden Inc (NYSE:BDC) released its quarterly earnings results on Wednesday. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08, Bloomberg Earnings reports. Belden had a net margin of 5.53% and a return on equity of 16.31%. The business had revenue of $621.74 million for the quarter, compared to analyst estimates of $626.05 million. During the same period last year, the firm earned $1.29 earnings per share. Belden’s revenue for the quarter was up 3.4% compared to the same quarter last year. Belden updated its Q4 guidance to $1.71-1.81 EPS.
Shares of Belden (NYSE:BDC) traded up 1.96% during midday trading on Wednesday, reaching $81.48. 122,066 shares of the company’s stock were exchanged. Belden has a 12 month low of $60.06 and a 12 month high of $86.31. The company has a market cap of $3.45 billion, a P/E ratio of 35.43 and a beta of 2.26. The firm has a 50 day moving average price of $81.83 and a 200 day moving average price of $75.53.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Friday, September 15th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Belden’s payout ratio is 8.66%.
In other news, SVP Paul Keith Turner sold 3,709 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the sale, the senior vice president now directly owns 4,967 shares in the company, valued at $391,945.97. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman John S. Stroup sold 17,227 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $84.75, for a total value of $1,459,988.25. 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. Company insiders own 1.31% of the company’s stock.
A number of equities analysts recently commented on BDC shares. Guggenheim started coverage on shares of Belden in a research report on Tuesday, July 11th. They set a “buy” rating and a $90.00 price target on the stock. Zacks Investment Research raised shares of Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price target on the stock in a research report on Tuesday, July 11th. ValuEngine lowered shares of Belden from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. BidaskClub lowered shares of Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Deutsche Bank AG raised their price target on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $85.88.
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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