Belden (NYSE:BDC) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.00-1.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.08. The company issued revenue guidance of $510-530 million, compared to the consensus revenue estimate of $520.75 million.Belden also updated its FY 2019
Pre-Market guidance to 4.32-4.47 EPS.
Belden stock opened at $53.47 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.94 and a quick ratio of 1.44. The stock has a market capitalization of $2.44 billion, a PE ratio of 8.82 and a beta of 2.36. The business has a 50 day simple moving average of $53.43 and a 200-day simple moving average of $52.51. Belden has a 12 month low of $37.79 and a 12 month high of $64.33.
Belden (NYSE:BDC) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.23). Belden had a negative net margin of 7.44% and a positive return on equity of 18.09%. The business had revenue of $620.32 million for the quarter, compared to analysts’ expectations of $632.68 million. During the same quarter last year, the business earned $1.72 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Belden will post 4.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.37%. The ex-dividend date is Wednesday, December 18th. Belden’s payout ratio is 3.30%.
A number of research firms have recently commented on BDC. Zacks Investment Research cut shares of Belden from a hold rating to a strong sell rating in a research note on Wednesday, November 6th. ValuEngine upgraded shares of Belden from a strong sell rating to a sell rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Belden currently has a consensus rating of Hold and a consensus price target of $60.18.
In other news, insider Biddle Neil purchased 300,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $0.10 per share, for a total transaction of $30,000.00. Insiders bought 1,556,961 shares of company stock worth $150,668 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.
Belden Company Profile
Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.
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