Brokerages Expect Belden Inc. (BDC) Will Post Quarterly Sales of $586.13 Million

Wall Street analysts predict that Belden Inc. (NYSE:BDC) will report $586.13 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Belden’s earnings, with the highest sales estimate coming in at $587.50 million and the lowest estimate coming in at $585.00 million. Belden reported sales of $551.38 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The business is expected to report its next quarterly earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Belden will report full-year sales of $586.13 million for the current fiscal year, with estimates ranging from $2.55 billion to $2.57 billion. For the next year, analysts forecast that the company will report sales of $2.62 billion per share, with estimates ranging from $2.57 billion to $2.66 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Belden.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.15). The company had revenue of $604.88 million during the quarter, compared to the consensus estimate of $648.92 million. Belden had a net margin of 3.90% and a return on equity of 18.20%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share.

BDC has been the topic of several research analyst reports. ValuEngine cut shares of Belden from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Cross Research raised shares of Belden from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Belden from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and issued a $94.00 price target on shares of Belden in a report on Friday, December 1st. Finally, Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Belden in a report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Belden presently has a consensus rating of “Hold” and an average target price of $89.50.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Belden by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 718 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Belden by 550.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 2,229 shares during the period. OxFORD Asset Management LLP bought a new position in shares of Belden during the third quarter worth approximately $224,000. Palouse Capital Management Inc. bought a new position in shares of Belden during the third quarter worth approximately $225,000. Finally, Shelton Capital Management bought a new position in shares of Belden during the second quarter worth approximately $242,000.

Belden (NYSE:BDC) opened at $72.79 on Wednesday. The firm has a market cap of $3,136.89, a PE ratio of 53.13 and a beta of 2.29. The company has a quick ratio of 1.59, a current ratio of 2.03 and a debt-to-equity ratio of 1.09. Belden has a fifty-two week low of $64.60 and a fifty-two week high of $87.14.

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About Belden

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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