Belden (NYSE:BDC) Releases Earnings Results, Beats Expectations By $0.19 EPS

Belden (NYSE:BDC) announced its earnings results 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 business had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. Belden’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 EPS. Belden updated its Q2 guidance to $1.30-1.40 EPS.

Belden Stock Performance

Shares of BDC traded down $0.68 during midday trading on Friday, reaching $88.23. The stock had a trading volume of 278,817 shares, compared to its average volume of 234,599. The firm has a market cap of $3.59 billion, a PE ratio of 17.27 and a beta of 1.07. The firm has a 50 day simple moving average of $87.12 and a 200-day simple moving average of $78.22. Belden has a one year low of $60.54 and a one year high of $99.13. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 1.02.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.23%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio (DPR) is currently 3.91%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BDC shares. Truist Financial lifted their price objective on shares of Belden from $98.00 to $101.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Insider Transactions at Belden

In related news, EVP Brian Lieser sold 2,056 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares in the company, valued at approximately $1,791,835.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.59% of the stock is owned by company insiders.

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.