Belden (NYSE:BDC) Lowered to Sell at Cross Research

Cross Research cut shares of Belden (NYSE:BDC) from a hold rating to a sell rating in a research report report published on Thursday morning, Benzinga reports.

Several other analysts have also recently issued reports on the stock. ValuEngine raised shares of Belden from a sell rating to a hold rating in a research note on Wednesday, January 15th. Zacks Investment Research raised shares of Belden from a strong sell rating to a buy rating and set a $60.00 price objective for the company in a research note on Monday, January 6th. Finally, Longbow Research raised shares of Belden from a neutral rating to a buy rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $60.85.

Shares of BDC stock traded up $0.15 on Thursday, reaching $50.38. 320,583 shares of the company were exchanged, compared to its average volume of 210,361. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -10.99 and a beta of 2.37. The business has a 50-day moving average price of $54.51 and a 200 day moving average price of $51.98. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.44 and a current ratio of 1.94. Belden has a 1 year low of $41.50 and a 1 year high of $64.33.

Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.23). Belden had a negative net margin of 7.44% and a positive return on equity of 18.09%. The business had revenue of $620.32 million for the quarter, compared to analysts’ expectations of $632.68 million. During the same period in the prior year, the company posted $1.72 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Belden will post 4.39 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th were paid a $0.05 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. Belden’s dividend payout ratio (DPR) is 3.30%.

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP purchased a new stake in shares of Belden in the 3rd quarter valued at approximately $41,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Belden by 10.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,830 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 274 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Belden by 64.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,828 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 1,503 shares during the last quarter. Howe & Rusling Inc. lifted its holdings in shares of Belden by 21.2% in the 3rd quarter. Howe & Rusling Inc. now owns 3,855 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 674 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Belden in the 2nd quarter worth approximately $262,000.

About Belden

Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.

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Analyst Recommendations for Belden (NYSE:BDC)

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