Belden (NYSE:BDC) Releases Q2 2024 Earnings Guidance

Belden (NYSE:BDC - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.300-1.400 for the period, compared to the consensus earnings per share estimate of 1.340. The company issued revenue guidance of $565.0 million-$580.0 million, compared to the consensus revenue estimate of $565.3 million.

Analysts Set New Price Targets

Several research firms have recently commented on BDC. Truist Financial raised their price objective on Belden from $98.00 to $101.00 and gave the stock a buy rating in a research note on Friday. StockNews.com upgraded shares of Belden from a hold rating to a buy rating in a research note on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Belden presently has an average rating of Moderate Buy and a consensus target price of $103.00.

Belden Price Performance

BDC traded down $0.73 during trading on Friday, reaching $88.18. 278,817 shares of the company traded hands, compared to its average volume of 275,537. The company has a market cap of $3.59 billion, a P/E ratio of 15.58 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 firm has a fifty day simple moving average of $87.04 and a 200 day simple moving average of $78.13.

Belden (NYSE:BDC - Get Free Report) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.19. The firm had revenue of $536.00 million for the quarter, compared to analysts' expectations of $514.27 million. Belden had a return on equity of 25.11% and a net margin of 9.66%. The business's revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.68 earnings per share. On average, equities analysts forecast that Belden will post 5.33 EPS for the current year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 13th. Belden's dividend payout ratio is 3.53%.

Insider Activity at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.59% of the stock is owned by insiders.

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.