Belden (NYSE:BDC) Releases Q2 Earnings Guidance

Belden (NYSE:BDC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.30-1.40 for the period, compared to the consensus earnings per share estimate of $1.35.

Belden Stock Down 0.8 %

BDC stock opened at $88.23 on Friday. The stock has a fifty day moving average of $87.12 and a 200-day moving average of $78.23. Belden has a fifty-two week low of $60.54 and a fifty-two week high of $99.13. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.72 and a current ratio of 2.55.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The business had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. During the same period in the prior year, the firm earned $1.68 earnings per share. The company’s revenue was down 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Belden will post 5.77 earnings per share for the current year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. Belden’s payout ratio is 3.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com raised Belden from a hold rating to a buy rating in a report on Thursday. Truist Financial lifted their target price on Belden from $98.00 to $101.00 and gave the company a buy rating in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Belden has a consensus rating of Moderate Buy and an average price target of $103.00.

Insider Buying and Selling at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the transaction, the executive vice president now owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.59% of the company’s stock.

About Belden

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.