Belden Inc. (NYSE:BDC) – Analysts at SunTrust Banks reduced their Q2 2019 earnings per share estimates for Belden in a report released on Wednesday, February 20th. SunTrust Banks analyst W. Stein now expects that the industrial products company will post earnings per share of $1.35 for the quarter, down from their previous estimate of $1.53. SunTrust Banks has a “Hold” rating and a $70.00 price objective on the stock. SunTrust Banks also issued estimates for Belden’s FY2019 earnings at $5.84 EPS, Q1 2020 earnings at $1.52 EPS, Q2 2020 earnings at $1.58 EPS, Q3 2020 earnings at $1.68 EPS, Q4 2020 earnings at $1.83 EPS and FY2020 earnings at $6.62 EPS.
Belden (NYSE:BDC) last posted its earnings results on Wednesday, February 20th. The industrial products company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.63 by $0.03. The firm had revenue of $655.39 million for the quarter, compared to analyst estimates of $661.84 million. Belden had a return on equity of 21.37% and a net margin of 6.22%. Belden’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share.
Several other research firms have also commented on BDC. Zacks Investment Research lowered Belden from a “hold” rating to a “sell” rating in a report on Wednesday. Canaccord Genuity increased their price target on Belden from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. Longbow Research downgraded Belden from a “buy” rating to a “neutral” rating and set a $63.27 price target on the stock. in a research report on Thursday. Seaport Global Securities reiterated a “buy” rating on shares of Belden in a research report on Friday, February 15th. Finally, Goldman Sachs Group downgraded Belden from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Sunday, December 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $72.15.
Belden stock opened at $60.23 on Friday. The stock has a market cap of $2.57 billion, a P/E ratio of 9.94 and a beta of 2.59. Belden has a 52 week low of $37.79 and a 52 week high of $78.81. The company has a current ratio of 1.76, a quick ratio of 1.38 and a debt-to-equity ratio of 1.05.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.33%. Belden’s dividend payout ratio is currently 3.30%.
Belden declared that its board has authorized a stock repurchase plan on Thursday, November 29th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 13.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of hedge funds have recently modified their holdings of BDC. First Hawaiian Bank purchased a new position in Belden during the third quarter worth approximately $159,000. Strs Ohio lifted its position in shares of Belden by 1.4% in the third quarter. Strs Ohio now owns 72,200 shares of the industrial products company’s stock valued at $5,155,000 after acquiring an additional 1,000 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Belden in the third quarter valued at approximately $2,107,000. WBI Investments Inc. purchased a new position in shares of Belden in the third quarter valued at approximately $379,000. Finally, Bbva Compass Bancshares Inc. lifted its position in shares of Belden by 46.9% in the third quarter. Bbva Compass Bancshares Inc. now owns 9,848 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 3,144 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.
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