Belden Inc. (BDC) Trading 2.2% Higher
Shares of Belden Inc. (NYSE:BDC) traded 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 traded. The stock had previously closed at $71.93.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “strong-buy” rating and set a $87.00 price target on the stock in a research report on Wednesday, July 20th. Canaccord Genuity restated a “buy” rating and issued a $70.00 price target on shares of Belden in a research report 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. Belden has an average rating of “Buy” and an average target price of $74.50.
The firm has a market capitalization of $3.11 billion and a P/E ratio of 25.68. The company has a 50-day moving average price of $71.67 and a 200-day moving average price of $62.90.
Belden (NYSE:BDC) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.54 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.28. The business earned $601.60 million during the quarter, compared to the consensus estimate of $582.25 million. During the same period in the prior year, the firm earned $1.21 EPS. On average, analysts anticipate that Belden Inc. will post $5.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Tuesday, September 13th.
In other Belden news, SVP Ross Rosenberg sold 2,274 shares of the company’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 sale, the senior vice president now directly owns 7,603 shares of the company’s stock, valued at $562,622. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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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