Belden Inc (BDC) Upgraded by BidaskClub to Hold
BidaskClub upgraded shares of Belden Inc (NYSE:BDC) from a sell rating to a hold rating in a research report sent to investors on Saturday.
BDC has been the topic of several other reports. Goldman Sachs Group, Inc. (The) began coverage on Belden in a research report on Friday, June 23rd. They set a buy rating and a $93.00 price target on the stock. Guggenheim began coverage on Belden in a research report on Tuesday, July 11th. They set a buy rating and a $90.00 price target on the stock. Canaccord Genuity restated a buy rating and set a $83.00 price target on shares of Belden in a research report on Friday, August 4th. CL King began coverage on Belden in a research report on Wednesday, June 21st. They set a neutral rating on the stock. Finally, ValuEngine lowered Belden from a buy rating to a hold rating in a research report on Thursday, July 20th. Six investment 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 a consensus rating of Buy and an average target price of $84.56.
Belden (NYSE:BDC) traded up 0.48% during midday trading on Friday, hitting $73.72. 108,876 shares of the stock traded hands. The firm’s 50 day moving average is $73.74 and its 200-day moving average is $72.08. The stock has a market capitalization of $3.12 billion, a PE ratio of 32.05 and a beta of 2.28. Belden has a 12-month low of $60.06 and a 12-month high of $81.33.
Belden (NYSE:BDC) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.08. Belden had a return on equity of 16.31% and a net margin of 5.53%. The business had revenue of $610.63 million for the quarter, compared to analyst estimates of $608.16 million. During the same period last year, the company earned $1.54 EPS. Belden’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts anticipate that Belden will post $5.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. Belden’s dividend payout ratio is currently 8.66%.
Belden announced that its Board of Directors has authorized a share buyback program on Thursday, May 25th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Several large investors have recently modified their holdings of the company. Greenwood Capital Associates LLC raised its stake in shares of Belden by 0.5% in the second quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock worth $225,000 after buying an additional 14 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of 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 worth $254,000 after buying an additional 15 shares in the last quarter. RMB Capital Management LLC raised its stake in shares of Belden by 0.3% in the first quarter. RMB Capital Management LLC now owns 17,234 shares of the industrial products company’s stock worth $1,192,000 after buying an additional 60 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of 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 worth $1,971,000 after buying an additional 90 shares in the last quarter. Finally, State Treasurer State of Michigan raised its stake in shares of 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 worth $1,183,000 after buying an additional 100 shares in the last quarter.
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).
Receive News & Stock Ratings for Belden Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden Inc and related stocks with our FREE daily email newsletter.