Analysts Expect Belden Inc. (BDC) Will Post Quarterly Sales of $649.15 Million

Analysts forecast that Belden Inc. (NYSE:BDC) will announce $649.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Belden’s earnings, with the lowest sales estimate coming in at $641.90 million and the highest estimate coming in at $651.20 million. Belden posted sales of $612.44 million during the same quarter last year, which would indicate a positive year over year growth rate of 6%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 1st.

According to Zacks, analysts expect that Belden will report full year sales of $649.15 million for the current fiscal year, with estimates ranging from $2.43 billion to $2.44 billion. For the next year, analysts forecast that the company will post sales of $2.52 billion per share, with estimates ranging from $2.51 billion to $2.54 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Belden.

Belden (NYSE:BDC) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.08. The business had revenue of $621.74 million for the quarter, compared to analyst estimates of $626.05 million. Belden had a return on equity of 17.52% and a net margin of 4.03%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS.

Several research analysts have weighed in on BDC shares. Cross Research lowered Belden from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Belden from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Friday, November 3rd. Canaccord Genuity reiterated a “buy” rating and set a $94.00 target price on shares of Belden in a report on Friday, December 1st. Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Belden in a report on Monday, September 25th. Finally, TheStreet lowered Belden from a “b” rating to a “c+” rating in a report on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $89.50.

Belden (NYSE:BDC) opened at $87.00 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.79 and a current ratio of 2.26. The firm has a market capitalization of $3,670.00, a PE ratio of 60.42 and a beta of 2.28. Belden has a twelve month low of $64.60 and a twelve month high of $87.14.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. Belden’s dividend payout ratio (DPR) is 13.89%.

Several institutional investors have recently modified their holdings of BDC. Prudential Financial Inc. lifted its holdings in shares of Belden by 13.3% in the second quarter. Prudential Financial Inc. now owns 31,898 shares of the industrial products company’s stock valued at $2,406,000 after purchasing an additional 3,734 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Belden in the second quarter valued at about $3,751,000. Wells Fargo & Company MN lifted its holdings in shares of Belden by 20.6% in the second quarter. Wells Fargo & Company MN now owns 102,130 shares of the industrial products company’s stock valued at $7,704,000 after purchasing an additional 17,448 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,197 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Belden by 7.4% in the second quarter. Teachers Advisors LLC now owns 77,342 shares of the industrial products company’s stock valued at $5,834,000 after purchasing an additional 5,325 shares in the last quarter.

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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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