Belden (NYSE:BDC) Issues Q2 Earnings Guidance

Belden (NYSE:BDC - Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.30-1.40 for the period, compared to the consensus earnings per share estimate of $1.35.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BDC. Truist Financial boosted their price target on shares of Belden from $89.00 to $98.00 and gave the company a buy rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Belden from a hold rating to a buy rating in a research report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $102.25.

Belden Trading Up 9.3 %

Shares of NYSE BDC traded up $7.59 during midday trading on Thursday, hitting $88.91. 467,713 shares of the company traded hands, compared to its average volume of 275,499. The firm has a market cap of $3.62 billion, a P/E ratio of 15.71 and a beta of 1.07. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.72 and a current ratio of 2.30. Belden has a 12-month low of $60.54 and a 12-month high of $99.13. The stock has a 50-day moving average price of $86.91 and a 200 day moving average price of $78.05.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.34. The business had revenue of $551.24 million for the quarter, compared to analysts' expectations of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. The business's revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.75 earnings per share. As a group, analysts expect that Belden will post 5.33 earnings per share for the current year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Wednesday, March 13th. Belden's dividend payout ratio (DPR) is presently 3.53%.

Insiders Place Their Bets

In other news, EVP Brian Lieser sold 2,056 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the sale, the executive vice president now owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.59% of the company's stock.

About Belden

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.