Belden (NYSE:BDC) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Belden (NYSE:BDC - Get Free Report) announced its earnings results on Thursday. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.19, Briefing.com reports. The firm had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company's revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 EPS. Belden updated its Q2 guidance to $1.30-1.40 EPS.

Belden Stock Down 0.8 %

Belden stock traded down $0.68 during trading hours on Friday, hitting $88.23. The stock had a trading volume of 278,817 shares, compared to its average volume of 234,599. The company has a quick ratio of 1.72, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $3.59 billion, a P/E ratio of 17.27 and a beta of 1.07. Belden has a 12-month low of $60.54 and a 12-month high of $99.13. The stock's 50-day moving average price is $87.12 and its 200-day moving average price is $78.22.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.23%. Belden's dividend payout ratio (DPR) is presently 3.91%.

Insiders Place Their Bets

In other Belden news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the transaction, the executive vice president now directly owns 21,772 shares of the company's stock, valued at $1,791,835.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BDC. Truist Financial lifted their price target on shares of Belden from $98.00 to $101.00 and gave the company a "buy" rating in a research report on Friday. StockNews.com raised shares of Belden from a "hold" rating to a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.00.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.