Belden Inc. (BDC) Hits New 12-Month High at $75.91
Belden Inc. (NYSE:BDC) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $75.91 and last traded at $74.71, with a volume of 113,179 shares traded. The stock had previously closed at $73.65.
Several analysts have weighed in on BDC shares. Zacks Investment Research raised shares of Belden from a “hold” rating to a “strong-buy” rating and set a $87.00 price target 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Belden presently has a consensus rating of “Buy” and a consensus target price of $74.50.
The stock has a market capitalization of $3.15 billion and a PE ratio of 26.03. The company’s 50-day moving average is $72.57 and its 200 day moving average is $63.73.
Belden (NYSE:BDC) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.28. The firm had revenue of $601.60 million for the quarter, compared to the consensus estimate of $582.25 million. During the same quarter in the previous year, the business earned $1.21 earnings per share. On average, analysts predict that Belden Inc. will post $5.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.27%.
In other news, SVP Ross Rosenberg sold 713 shares of the firm’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $69.00, for a total transaction of $49,197.00. Following the sale, the senior vice president now directly owns 9,877 shares in the company, valued at approximately $681,513. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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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