Belden (NYSE:BDC) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $40.00 to $37.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.28% from the company’s current price.
Several other equities research analysts have also issued reports on BDC. Loop Capital assumed coverage on shares of Belden in a report on Monday, April 27th. They issued a “buy” rating and a $44.00 target price for the company. Benchmark initiated coverage on shares of Belden in a research note on Thursday, March 26th. They issued a “buy” rating and a $44.00 price objective for the company. ValuEngine raised Belden from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Canaccord Genuity decreased their price target on Belden from $52.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Zacks Investment Research cut Belden from a “buy” rating to a “hold” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $41.28.
Shares of BDC stock opened at $31.02 on Tuesday. The company has a market cap of $1.37 billion, a PE ratio of 6.94 and a beta of 1.78. Belden has a 1 year low of $25.54 and a 1 year high of $57.00. The stock’s 50 day simple moving average is $33.59 and its two-hundred day simple moving average is $40.52. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.07 and a quick ratio of 1.63.
Belden (NYSE:BDC) last released its earnings results on Wednesday, April 29th. The industrial products company reported $0.67 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. The firm had revenue of $463.53 million for the quarter, compared to the consensus estimate of $462.50 million. Belden had a positive return on equity of 18.10% and a negative net margin of 18.20%. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. Equities research analysts expect that Belden will post 2.84 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in BDC. Profund Advisors LLC acquired a new position in Belden during the 4th quarter valued at about $212,000. Texas Permanent School Fund boosted its stake in Belden by 24.3% in the 1st quarter. Texas Permanent School Fund now owns 32,849 shares of the industrial products company’s stock worth $1,185,000 after purchasing an additional 6,419 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Belden by 33.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,090 shares of the industrial products company’s stock valued at $328,000 after purchasing an additional 2,275 shares in the last quarter. Wellington Management Group LLP increased its stake in Belden by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 1,895,965 shares of the industrial products company’s stock valued at $68,406,000 after purchasing an additional 20,708 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new position in shares of Belden in the first quarter worth $1,033,000.
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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