Brokerages forecast that Belden Inc (NYSE:BDC) will announce earnings per share of $1.21 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Belden’s earnings. The highest EPS estimate is $1.22 and the lowest is $1.20. Belden reported earnings per share of $1.54 in the same quarter last year, which would indicate a negative year-over-year growth rate of 21.4%. The company is scheduled to report its next earnings report before the market opens on Wednesday, August 2nd.
On average, analysts expect that Belden will report full-year earnings of $5.30 per share for the current fiscal year, with EPS estimates ranging from $5.20 to $5.45. For the next fiscal year, analysts forecast that the company will report earnings of $5.78 per share, with EPS estimates ranging from $5.58 to $6.09. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Belden.
Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The firm had revenue of $551.40 million during the quarter, compared to the consensus estimate of $551.14 million. Belden had a net margin of 5.80% and a return on equity of 18.25%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 earnings per share.
Several brokerages have commented on BDC. Zacks Investment Research upgraded shares of Belden from a “sell” rating to a “hold” rating in a report on Tuesday, March 28th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Belden in a research note on Friday, June 23rd. They issued a “buy” rating and a $93.00 price target for the company. CL King initiated coverage on shares of Belden in a research note on Wednesday, June 21st. They issued a “neutral” rating for the company. Finally, Guggenheim initiated coverage on shares of Belden in a research note on Tuesday, July 11th. They issued a “buy” rating and a $90.00 price target for the company. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Belden currently has a consensus rating of “Buy” and a consensus target price of $83.78.
Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in Belden during the fourth quarter valued at approximately $1,332,000. Credit Agricole S A increased its stake in shares of Belden by 16.3% in the fourth quarter. Credit Agricole S A now owns 3,769 shares of the industrial products company’s stock worth $282,000 after buying an additional 529 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Belden during the fourth quarter worth about $105,000. GSA Capital Partners LLP acquired a new stake in shares of Belden during the fourth quarter worth about $285,000. Finally, Norges Bank acquired a new stake in shares of Belden during the fourth quarter worth about $32,808,000.
Belden (NYSE BDC) opened at 74.87 on Wednesday. The company has a market cap of $3.16 billion, a P/E ratio of 28.17 and a beta of 2.30. Belden has a 1-year low of $60.06 and a 1-year high of $81.33. The stock’s 50 day moving average is $75.19 and its 200 day moving average is $72.72.
Belden declared that its board has initiated a stock buyback plan on Thursday, May 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. Belden’s dividend payout ratio (DPR) is currently 7.55%.
Belden Company Profile
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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