Guggenheim reaffirmed their buy rating on shares of Belden (NYSE:BDC) in a research note published on Wednesday. They currently have a $77.00 price target on the industrial products company’s stock.
Several other equities analysts have also commented on BDC. ValuEngine raised Belden from a sell rating to a hold rating in a research note on Thursday, August 2nd. TheStreet raised Belden from a c rating to a b- rating in a research note on Tuesday, August 21st. Canaccord Genuity reaffirmed a buy rating and issued a $88.00 price target on shares of Belden in a research note on Wednesday, August 22nd. Finally, Zacks Investment Research raised 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $73.40.
NYSE BDC opened at $54.94 on Wednesday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 10.27 and a beta of 2.41. The company has a current ratio of 1.90, a quick ratio of 1.26 and a debt-to-equity ratio of 1.08. Belden has a fifty-two week low of $50.71 and a fifty-two week high of $87.14.
Belden (NYSE:BDC) last released its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.01. The company had revenue of $659.00 million for the quarter, compared to analyst estimates of $679.15 million. Belden had a return on equity of 21.28% and a net margin of 5.83%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 earnings per share. Equities analysts anticipate that Belden will post 6.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Stockholders of record on Tuesday, September 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, September 17th. Belden’s dividend payout ratio (DPR) is presently 3.74%.
In other Belden news, Chairman John S. Stroup purchased 9,250 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were acquired at an average price of $53.44 per share, with a total value of $494,320.00. Following the purchase, the chairman now directly owns 21,713 shares in the company, valued at approximately $1,160,342.72. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.34% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank purchased a new stake in shares of Belden in the 3rd quarter valued at $159,000. US Bancorp DE raised its holdings in shares of Belden by 83.0% in the 2nd quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock valued at $161,000 after buying an additional 1,192 shares during the period. Howe & Rusling Inc. raised its holdings in shares of Belden by 14,270.0% in the 2nd quarter. Howe & Rusling Inc. now owns 2,874 shares of the industrial products company’s stock valued at $176,000 after buying an additional 2,854 shares during the period. Balter Liquid Alternatives LLC purchased a new stake in shares of Belden in the 2nd quarter valued at $210,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Belden in the 2nd quarter valued at $225,000.
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: Institutional Investors
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