Belden (NYSE:BDC) Issues Quarterly Earnings Results

Belden (NYSE:BDCGet Free Report) announced its earnings results on Thursday. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.12 by $0.34, Briefing.com reports. The business had revenue of $551.24 million during the quarter, compared to the consensus estimate of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. Belden’s revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.75 EPS. Belden updated its Q1 guidance to $1.00-1.10 EPS and its Q1 2024 guidance to 1.000-1.100 EPS.

Belden Price Performance

BDC stock opened at $83.23 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.30 and a quick ratio of 1.95. Belden has a 1 year low of $60.54 and a 1 year high of $99.13. The company has a 50 day simple moving average of $74.90 and a 200 day simple moving average of $80.47. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 14.70 and a beta of 1.02.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 9th. Investors of record on Thursday, December 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, December 13th. Belden’s dividend payout ratio is 3.53%.

Insider Buying and Selling at Belden

In other Belden news, SVP Leah Tate purchased 1,550 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $64.53 per share, for a total transaction of $100,021.50. Following the transaction, the senior vice president now owns 3,360 shares in the company, valued at approximately $216,820.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Belden

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in Belden in the 4th quarter valued at approximately $140,000. Atlas Capital Advisors LLC boosted its stake in shares of Belden by 39.0% in the 2nd quarter. Atlas Capital Advisors LLC now owns 2,472 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 694 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Belden by 549.3% in the 1st quarter. Belpointe Asset Management LLC now owns 1,435 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 1,214 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Belden in the 1st quarter valued at $106,000. Finally, Captrust Financial Advisors boosted its stake in shares of Belden by 95.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,560 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 762 shares during the last quarter. 99.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a report on Wednesday, December 13th. Truist Financial boosted their price objective on shares of Belden from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group cut their price objective on shares of Belden from $106.00 to $91.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Finally, Loop Capital cut their price objective on shares of Belden from $110.00 to $105.00 and set a “buy” rating for the company in a report on Monday, October 16th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Belden has a consensus rating of “Moderate Buy” and a consensus target price of $103.40.

Read Our Latest Report on BDC

About Belden

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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 Automation 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.

See Also

Earnings History for Belden (NYSE:BDC)

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