Brokerages Expect Belden (BDC) Will Post Quarterly Sales of $585.75 Million

Analysts expect Belden (NYSE:BDC) to post sales of $585.75 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Belden’s earnings, with estimates ranging from $585.00 million to $587.00 million. Belden posted sales of $551.38 million in the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The business is expected to issue its next earnings results before the market opens on Wednesday, May 2nd.

On average, analysts expect that Belden will report full-year sales of $2.55 billion for the current year, with estimates ranging from $2.54 billion to $2.57 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.63 billion per share, with estimates ranging from $2.60 billion to $2.66 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Belden.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.15). The business had revenue of $604.88 million during the quarter, compared to analyst estimates of $648.92 million. Belden had a return on equity of 18.20% and a net margin of 3.90%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.42 EPS.

A number of analysts have recently weighed in on the stock. ValuEngine lowered shares of Belden from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $90.00 price objective on shares of Belden in a research note on Friday, March 30th. Zacks Investment Research lowered shares of Belden from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. SunTrust Banks upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, March 26th. Finally, Cross Research upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $91.83.

In related news, SVP Ross Rosenberg sold 779 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $75.00, for a total transaction of $58,425.00. Following the sale, the senior vice president now directly owns 5,329 shares of the company’s stock, valued at $399,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.34% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in BDC. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Belden by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock worth $190,000 after buying an additional 718 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Belden during the fourth quarter worth $197,000. Zeke Capital Advisors LLC purchased a new stake in Belden during the fourth quarter worth $202,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Belden by 550.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock worth $212,000 after buying an additional 2,229 shares in the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in Belden during the third quarter worth $224,000.

Shares of NYSE:BDC traded down $1.03 during midday trading on Monday, reaching $68.58. The company’s stock had a trading volume of 392,207 shares, compared to its average volume of 503,385. The firm has a market capitalization of $2,918.79, a P/E ratio of 12.82 and a beta of 2.35. Belden has a twelve month low of $64.51 and a twelve month high of $87.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.02 and a quick ratio of 1.58.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Wednesday, March 14th. Belden’s dividend payout ratio (DPR) is presently 3.74%.

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About Belden

Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.

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