Belden Inc. (BDC) Stock Price Down 2.4%
Belden Inc. (NYSE:BDC)’s share price traded down 2.4% during trading on Thursday . The company traded as low as $71.86 and last traded at $72.79, with a volume of 226,478 shares traded. The stock had previously closed at $74.59.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Belden from a “hold” rating to a “strong-buy” rating and set a $87.00 target price on the stock in a research note on Wednesday, July 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price on shares of Belden in a research note on Tuesday, June 28th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $74.50.
The stock’s 50 day moving average price is $72.73 and its 200-day moving average price is $63.81. The company has a market cap of $3.16 billion and a price-to-earnings ratio of 26.10.
Belden (NYSE:BDC) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.28. The company earned $601.60 million during the quarter, compared to analysts’ expectations of $582.25 million. During the same quarter in the prior year, the business earned $1.21 EPS. On average, analysts anticipate that Belden Inc. will post $5.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%.
In other news, SVP Ross Rosenberg sold 713 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $69.00, for a total value of $49,197.00. Following the completion of the transaction, the senior vice president now 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 is accessible 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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