Stifel Nicolaus Cuts Belden (NYSE:BDC) Price Target to $60.00

Belden (NYSE:BDC) had its target price reduced by Stifel Nicolaus from $63.00 to $60.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

BDC has been the subject of several other research reports. Zacks Investment Research upgraded Belden from a sell rating to a hold rating in a report on Tuesday. Longbow Research upgraded Belden from a neutral rating to a buy rating in a report on Friday, January 3rd. ValuEngine upgraded Belden from a sell rating to a hold rating in a report on Wednesday, January 15th. Canaccord Genuity restated a hold rating and issued a $52.00 price objective on shares of Belden in a report on Wednesday, February 5th. Finally, Cross Research cut Belden from a hold rating to a sell rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $57.85.

Shares of BDC traded down $1.15 during midday trading on Thursday, hitting $50.44. The stock had a trading volume of 149,700 shares, compared to its average volume of 261,032. The company has a 50 day simple moving average of $52.98 and a two-hundred day simple moving average of $51.57. Belden has a twelve month low of $41.50 and a twelve month high of $64.33. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -5.81 and a beta of 2.47. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.91 and a quick ratio of 1.59.

Belden (NYSE:BDC) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.13. The company had revenue of $549.70 million during the quarter, compared to analysts’ expectations of $520.73 million. Belden had a positive return on equity of 17.78% and a negative net margin of 15.74%. Belden’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 EPS. Analysts forecast that Belden will post 4.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.40%. Belden’s payout ratio is presently 4.42%.

Several institutional investors have recently modified their holdings of BDC. Ancora Advisors LLC bought a new stake in shares of Belden in the fourth quarter worth $30,000. Emerald Advisers LLC acquired a new position in shares of Belden during the fourth quarter valued at about $32,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Belden during the fourth quarter valued at about $41,000. Parkside Financial Bank & Trust raised its holdings in shares of Belden by 35.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,154 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 303 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Belden by 10.7% during the third quarter. Public Employees Retirement System of Ohio now owns 2,830 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 274 shares during the period.

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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