SunTrust Banks Weighs in on Belden Inc’s Q1 2018 Earnings (BDC)
Belden Inc (NYSE:BDC) – Equities researchers at SunTrust Banks cut their Q1 2018 earnings estimates for shares of Belden in a research note issued to investors on Wednesday. SunTrust Banks analyst W. Stein now anticipates that the industrial products company will post earnings of $1.03 per share for the quarter, down from their previous estimate of $1.09. SunTrust Banks also issued estimates for Belden’s Q2 2018 earnings at $1.20 EPS, Q4 2018 earnings at $1.90 EPS and FY2018 earnings at $6.08 EPS.
Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The firm had revenue of $621.74 million for the quarter, compared to the consensus estimate of $626.05 million. During the same period in the prior year, the firm posted $1.29 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year.
Shares of Belden (NYSE:BDC) opened at $81.83 on Friday. Belden has a twelve month low of $64.60 and a twelve month high of $86.85. The stock has a market cap of $3,470.49, a price-to-earnings ratio of 16.07 and a beta of 2.26. The company has a current ratio of 2.26, a quick ratio of 1.79 and a debt-to-equity ratio of 1.06.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Belden by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 160 shares in the last quarter. World Asset Management Inc acquired a new stake in Belden in the second quarter valued at approximately $201,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Belden by 550.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 2,229 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in Belden by 70.4% in the second quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 1,197 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new stake in Belden in the third quarter valued at approximately $224,000.
In other Belden news, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction dated 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 owns 4,967 shares of the company’s stock, valued at $391,945.97. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $84.75, for a total transaction of $1,459,988.25. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.24%. The ex-dividend date is Thursday, December 14th. Belden’s dividend payout ratio (DPR) is presently 13.79%.
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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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