Wall Street brokerages expect Belden Inc. (NYSE:BDC) to post sales of $643.82 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Belden’s earnings, with the highest sales estimate coming in at $646.63 million and the lowest estimate coming in at $640.94 million. Belden reported sales of $668.64 million during the same quarter last year, which indicates a negative year-over-year growth rate of 3.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Belden will report full-year sales of $2.55 billion for the current year, with estimates ranging from $2.54 billion to $2.56 billion. For the next year, analysts anticipate that the firm will post sales of $2.61 billion, with estimates ranging from $2.59 billion to $2.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Belden.
Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. The firm had revenue of $587.18 million during the quarter, compared to analysts’ expectations of $577.17 million. Belden had a return on equity of 20.17% and a net margin of 7.15%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS.
A number of analysts have commented on the company. TheStreet cut Belden from a “b-” rating to a “c+” rating in a research report on Friday, March 29th. Zacks Investment Research raised Belden from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Seaport Global Securities reaffirmed a “buy” rating on shares of Belden in a research report on Friday, February 15th. Longbow Research cut Belden from a “buy” rating to a “neutral” rating and set a $63.27 price target for the company. in a research report on Thursday, February 21st. Finally, SunTrust Banks lifted their price target on Belden to $70.00 and gave the stock a “hold” rating in a research report on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $69.18.
Shares of Belden stock traded up $0.38 during trading on Friday, reaching $53.90. The company’s stock had a trading volume of 186,145 shares, compared to its average volume of 464,503. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.97 and a quick ratio of 1.40. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 8.89 and a beta of 2.56. Belden has a 1-year low of $37.79 and a 1-year high of $76.39.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Wednesday, June 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. Belden’s dividend payout ratio is currently 3.30%.
A number of institutional investors and hedge funds have recently modified their holdings of BDC. Premia Global Advisors LLC acquired a new stake in Belden during the 1st quarter worth about $35,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Belden during the 4th quarter valued at about $55,000. NumerixS Investment Technologies Inc purchased a new position in shares of Belden during the 1st quarter valued at about $64,000. Public Employees Retirement System of Ohio raised its stake in shares of Belden by 12.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock valued at $91,000 after buying an additional 244 shares during the last quarter. Finally, Howe & Rusling Inc. raised its stake in shares of Belden by 28.9% during the 4th quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock valued at $120,000 after buying an additional 646 shares during the last quarter.
Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.
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