Wall Street brokerages predict that Belden Inc. (NYSE:BDC) will report $677.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Belden’s earnings, with the highest sales estimate coming in at $681.00 million and the lowest estimate coming in at $665.70 million. Belden reported sales of $621.75 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8.9%. The company is scheduled to report its next earnings results on Wednesday, November 7th.
On average, analysts expect that Belden will report full-year sales of $2.66 billion for the current fiscal year, with estimates ranging from $2.63 billion to $2.67 billion. For the next financial year, analysts expect that the company will report sales of $2.71 billion per share, with estimates ranging from $2.66 billion to $2.75 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Belden.
Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.06. Belden had a net margin of 2.52% and a return on equity of 20.50%. The business had revenue of $668.64 million for the quarter, compared to analyst estimates of $661.83 million. During the same quarter in the prior year, the business posted $1.29 EPS. Belden’s revenue for the quarter was up 9.5% compared to the same quarter last year.
BDC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Thursday, May 31st. Canaccord Genuity set a $88.00 price objective on shares of Belden and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Belden in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Belden from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, TheStreet upgraded shares of Belden from a “c” rating to a “b-” rating in a research note on Tuesday, August 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $86.75.
Several large investors have recently added to or reduced their stakes in BDC. US Bancorp DE boosted its holdings in Belden by 83.0% during the second quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock worth $161,000 after buying an additional 1,192 shares in the last quarter. Howe & Rusling Inc. boosted its holdings in Belden by 14,270.0% during the second quarter. Howe & Rusling Inc. now owns 2,874 shares of the industrial products company’s stock worth $176,000 after buying an additional 2,854 shares in the last quarter. Balter Liquid Alternatives LLC purchased a new stake in Belden during the second quarter worth $210,000. Highbridge Capital Management LLC purchased a new stake in Belden during the first quarter worth $240,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Belden during the second quarter worth $225,000.
Belden stock traded up $0.90 during mid-day trading on Tuesday, reaching $72.75. 680 shares of the company traded hands, compared to its average volume of 219,856. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 1.10. Belden has a fifty-two week low of $53.65 and a fifty-two week high of $87.14. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 13.47 and a beta of 2.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 4th. Stockholders of record on Tuesday, September 18th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. Belden’s payout ratio is currently 3.74%.
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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