Belden Inc. (BDC) Receives Average Recommendation of “Buy” from Brokerages
Shares of Belden Inc. (NYSE:BDC) have earned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $85.86.
A number of brokerages have commented on BDC. Zacks Investment Research downgraded shares of Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Belden in a research note on Monday, September 25th. Canaccord Genuity reiterated a “buy” rating and set a $88.00 price objective (up from $83.00) on shares of Belden in a research note on Wednesday, September 13th. ValuEngine upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Finally, Deutsche Bank AG increased their price objective on shares of Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd.
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Belden (NYSE BDC) traded up 0.09% during mid-day trading on Wednesday, reaching $84.71. The company’s stock had a trading volume of 113,242 shares. The stock has a market cap of $3.58 billion, a P/E ratio of 36.83 and a beta of 2.26. The firm’s 50 day moving average is $80.11 and its 200-day moving average is $74.24. Belden has a one year low of $60.06 and a one year high of $86.31.
Belden (NYSE:BDC) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.08. The business had revenue of $610.63 million for the quarter, compared to the consensus estimate of $608.16 million. Belden had a net margin of 5.88% and a return on equity of 7.42%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 EPS. Equities analysts expect that Belden will post $5.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Belden’s dividend payout ratio is presently 8.66%.
In other Belden news, Chairman John S. Stroup sold 17,227 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $84.75, for a total value of $1,459,988.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul Keith Turner sold 3,709 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the sale, the senior vice president now owns 4,967 shares of the company’s stock, valued at $391,945.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,230 shares of company stock worth $1,775,189. Insiders own 1.31% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BDC. Janus Henderson Group PLC acquired a new stake in Belden in the second quarter valued at approximately $369,478,000. BlackRock Inc. boosted its stake in Belden by 22,743.7% in the first quarter. BlackRock Inc. now owns 4,264,460 shares of the industrial products company’s stock valued at $295,057,000 after acquiring an additional 4,245,792 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Belden by 223.2% in the second quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock valued at $35,816,000 after acquiring an additional 327,914 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Belden in the second quarter valued at approximately $23,082,000. Finally, Royal Bank of Canada boosted its stake in Belden by 3,024.6% in the second quarter. Royal Bank of Canada now owns 236,942 shares of the industrial products company’s stock valued at $17,873,000 after acquiring an additional 229,359 shares in the last quarter.
Belden Company Profile
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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