$1.41 Earnings Per Share Expected for Belden Inc. (BDC) This Quarter
Equities analysts predict that Belden Inc. (NYSE:BDC) will report $1.41 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Belden’s earnings, with the highest EPS estimate coming in at $1.44 and the lowest estimate coming in at $1.40. Belden posted earnings of $1.29 per share during the same quarter last year, which would indicate a positive year over year growth rate of 9.3%. The business is scheduled to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Belden will report full-year earnings of $5.47 per share for the current financial year, with EPS estimates ranging from $5.45 to $5.50. For the next year, analysts expect that the firm will report earnings of $6.04 per share, with EPS estimates ranging from $5.92 to $6.14. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Belden.
Belden (NYSE:BDC) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Belden had a net margin of 5.88% and a return on equity of 7.42%. The firm had revenue of $610.63 million for the quarter, compared to the consensus estimate of $608.16 million. During the same period in the previous year, the company earned $1.54 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis.
A number of research analysts have recently issued reports on BDC shares. CL King started coverage on Belden in a report on Wednesday, June 21st. They set a “neutral” rating on the stock. Goldman Sachs Group, Inc. (The) started coverage on Belden in a report on Friday, June 23rd. They set a “buy” rating and a $93.00 price target on the stock. Guggenheim started coverage on Belden in a report on Tuesday, July 11th. They set a “buy” rating and a $90.00 price target on the stock. Zacks Investment Research raised Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price target on the stock in a report on Tuesday, July 11th. Finally, ValuEngine downgraded Belden from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $84.56.
Hedge funds have recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC boosted its stake in Belden by 0.5% in the second quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock valued at $225,000 after buying an additional 14 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Belden by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 3,372 shares of the industrial products company’s stock valued at $254,000 after buying an additional 15 shares in the last quarter. RMB Capital Management LLC boosted its stake in Belden by 0.3% in the first quarter. RMB Capital Management LLC now owns 17,234 shares of the industrial products company’s stock valued at $1,192,000 after buying an additional 60 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Belden by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 26,132 shares of the industrial products company’s stock valued at $1,971,000 after buying an additional 90 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in Belden by 0.6% in the first quarter. State Treasurer State of Michigan now owns 17,100 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 100 shares in the last quarter.
Belden (NYSE BDC) traded up 0.48% during trading on Friday, hitting $73.72. 108,876 shares of the company’s stock traded hands. The company’s 50 day moving average price is $73.74 and its 200 day moving average price is $72.08. Belden has a 52-week low of $60.06 and a 52-week high of $81.33. The company has a market cap of $3.12 billion, a PE ratio of 32.05 and a beta of 2.28.
Belden announced that its board has initiated a stock repurchase program on Thursday, May 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Friday, September 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Thursday, September 14th. Belden’s payout ratio is 8.66%.
Belden Company Profile
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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