Belden (NYSE:BDC) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Belden (NYSE:BDC) issued its quarterly earnings data on Thursday. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19, Briefing.com reports. The firm had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 earnings per share. Belden updated its Q2 guidance to $1.30-1.40 EPS.

Belden Stock Down 0.8 %

BDC stock traded down $0.68 during trading hours on Friday, reaching $88.23. 278,817 shares of the stock were exchanged, compared to its average volume of 234,599. The firm’s 50-day moving average is $87.12 and its 200-day moving average is $78.22. Belden has a 12 month low of $60.54 and a 12 month high of $99.13. The company has a market cap 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 current ratio of 2.55 and a quick ratio of 1.72.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.23%. Belden’s dividend payout ratio is currently 3.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BDC shares. Truist Financial upped their price objective on shares of Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Insider Activity

In other news, EVP Brian Lieser sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 directly owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.