Belden (NYSE:BDC) Releases FY 2022 Earnings Guidance

Belden (NYSE:BDCGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.55-$5.85 for the period, compared to the consensus estimate of $5.73. The company issued revenue guidance of $2.48 billion-$2.53 billion, compared to the consensus revenue estimate of $2.51 billion. Belden also updated its Q2 2022 guidance to $1.35-$1.45 EPS.

A number of research analysts recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Belden from $82.00 to $88.00 and gave the company a buy rating in a report on Thursday, May 5th. The Goldman Sachs Group raised shares of Belden from a sell rating to a neutral rating and lowered their price target for the company from $57.00 to $55.00 in a report on Tuesday, April 19th. TheStreet raised shares of Belden from a c+ rating to a b- rating in a report on Thursday, May 26th. Truist Financial lowered their price target on shares of Belden from $86.00 to $65.00 and set a buy rating for the company in a report on Friday, April 8th. Finally, StockNews.com raised shares of Belden from a buy rating to a strong-buy rating in a research note on Thursday, April 21st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $72.50.

Shares of NYSE BDC opened at $49.70 on Wednesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.39 and a quick ratio of 1.71. The company has a market cap of $2.20 billion, a P/E ratio of 31.86 and a beta of 1.32. Belden has a 1 year low of $45.31 and a 1 year high of $68.87. The firm has a 50-day simple moving average of $53.99 and a two-hundred day simple moving average of $56.71.

Belden (NYSE:BDCGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.22. The business had revenue of $610.40 million during the quarter, compared to the consensus estimate of $572.62 million. Belden had a net margin of 2.86% and a return on equity of 25.14%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. As a group, equities research analysts expect that Belden will post 5.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 7th. Stockholders of record on Thursday, June 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, June 15th. Belden’s dividend payout ratio (DPR) is presently 12.82%.

In related news, EVP Ashish Chand bought 9,949 shares of Belden stock in a transaction dated Friday, June 17th. The shares were acquired at an average cost of $50.36 per share, with a total value of $501,031.64. Following the completion of the transaction, the executive vice president now owns 55,772 shares in the company, valued at approximately $2,808,677.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.06% of the company’s stock.

Several large investors have recently modified their holdings of BDC. LPL Financial LLC purchased a new position in Belden during the third quarter valued at approximately $217,000. Janus Henderson Group PLC purchased a new position in Belden during the third quarter valued at approximately $263,000. Goldman Sachs Group Inc. increased its holdings in Belden by 65.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 281,904 shares of the industrial products company’s stock valued at $18,530,000 after buying an additional 111,078 shares during the period. Credit Suisse AG increased its holdings in Belden by 4.4% during the fourth quarter. Credit Suisse AG now owns 44,103 shares of the industrial products company’s stock valued at $2,899,000 after buying an additional 1,862 shares during the period. Finally, Guggenheim Capital LLC purchased a new position in Belden during the fourth quarter valued at approximately $478,000. 99.58% of the stock is currently owned by institutional investors and hedge funds.

Belden Company Profile (Get Rating)

Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber, and home and building automation.

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Earnings History and Estimates for Belden (NYSE:BDC)

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