Belden Inc. (BDC) Shares Up 2.2%
Belden Inc. (NYSE:BDC) shot up 2.2% during mid-day trading on Thursday . The stock traded as high as $73.81 and last traded at $73.49, with a volume of 246,217 shares. The stock had previously closed at $71.93.
A number of equities research analysts have recently weighed in on BDC shares. Zacks Investment Research raised Belden from a “hold” rating to a “strong-buy” rating and set a $87.00 target price for the company in a research note on Wednesday, July 20th. Canaccord Genuity reissued a “buy” rating on shares of Belden in a research note on Monday, June 6th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.50.
The stock’s 50-day moving average price is $71.30 and its 200 day moving average price is $62.64. The firm has a market cap of $3.10 billion and a P/E ratio of 25.61.
Belden (NYSE:BDC) last posted its earnings results on Tuesday, July 19th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.28. The business had revenue of $601.60 million for the quarter, compared to analyst estimates of $582.25 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Analysts forecast that Belden Inc. will post $5.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%.
In related news, SVP Ross Rosenberg sold 2,274 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $74.00, for a total transaction of $168,276.00. Following the completion of the transaction, the senior vice president now directly owns 7,603 shares in the company, valued at $562,622. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.
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