Wall Street analysts expect Belden Inc. (NYSE:BDC) to post $677.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Belden’s earnings. The highest sales estimate is $681.00 million and the lowest is $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 announce its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Belden will report full year sales of $2.66 billion for the current financial year, with estimates ranging from $2.63 billion to $2.67 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.71 billion per share, with estimates ranging from $2.66 billion to $2.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Belden.
Belden (NYSE:BDC) last issued its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.06. The company had revenue of $668.64 million during the quarter, compared to analyst estimates of $661.83 million. Belden had a return on equity of 20.50% and a net margin of 2.52%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share.
A number of research analysts have commented on the company. TheStreet upgraded Belden from a “c” rating to a “b-” rating in a research note on Tuesday, August 21st. Canaccord Genuity restated a “buy” rating and set a $88.00 price target on shares of Belden in a research note on Wednesday, August 22nd. Zacks Investment Research upgraded Belden from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Friday, August 3rd. ValuEngine upgraded Belden from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Guggenheim restated a “buy” rating and set a $90.00 price target on shares of Belden in a research note on Wednesday, August 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $86.75.
Shares of Belden stock opened at $72.35 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.79 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 company has a market capitalization of $2.84 billion, a P/E ratio of 13.52 and a beta of 2.31.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Tuesday, September 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Monday, September 17th. Belden’s dividend payout ratio (DPR) is 3.74%.
A number of large investors have recently added to or reduced their stakes in BDC. Wells Fargo & Company MN lifted its stake in Belden by 929.5% during the first quarter. Wells Fargo & Company MN now owns 856,686 shares of the industrial products company’s stock worth $59,060,000 after purchasing an additional 773,472 shares in the last quarter. Swiss National Bank raised its stake in shares of Belden by 2.2% in the first quarter. Swiss National Bank now owns 73,600 shares of the industrial products company’s stock valued at $5,074,000 after acquiring an additional 1,600 shares in the last quarter. Rothschild Asset Management Inc. raised its stake in shares of Belden by 5.9% in the first quarter. Rothschild Asset Management Inc. now owns 117,126 shares of the industrial products company’s stock valued at $8,075,000 after acquiring an additional 6,522 shares in the last quarter. Dean Investment Associates LLC acquired a new stake in shares of Belden in the first quarter valued at $726,000. Finally, BlackRock Inc. raised its stake in shares of Belden by 1.3% in the first quarter. BlackRock Inc. now owns 4,469,852 shares of the industrial products company’s stock valued at $308,151,000 after acquiring an additional 57,012 shares in the last quarter.
Belden Company Profile
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.
Further Reading: Book Value Per Share – BVPS
Get a free copy of the Zacks research report on Belden (BDC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.