Belden Inc. (NYSE:BDC) Given Consensus Recommendation of “Buy” by Brokerages

Posted by on Jun 23rd, 2022

Belden Inc. (NYSE:BDC – Get Rating) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $72.50.

Several research firms recently weighed in on BDC. Truist Financial decreased their price target on Belden from $86.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, April 8th. Canaccord Genuity Group increased their price target on Belden from $82.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, May 5th. TheStreet upgraded Belden from a “c+” rating to a “b-” rating in a report on Thursday, May 26th. The Goldman Sachs Group raised Belden from a “sell” rating to a “neutral” rating and cut their price objective for the company from $57.00 to $55.00 in a research report on Tuesday, April 19th. Finally, StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 21st.

In other news, EVP Ashish Chand purchased 9,949 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were acquired at an average price of $50.36 per share, with a total value of $501,031.64. Following the transaction, the executive vice president now owns 55,772 shares of the company’s stock, valued at $2,808,677.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Belden by 1.7% during the 1st quarter. Bank of America Corp DE now owns 200,414 shares of the industrial products company’s stock worth $11,102,000 after buying an additional 3,305 shares in the last quarter. Verition Fund Management LLC bought a new stake in Belden during the first quarter valued at about $249,000. Jane Street Group LLC boosted its position in Belden by 96.2% during the first quarter. Jane Street Group LLC now owns 7,934 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 3,890 shares in the last quarter. Point72 Hong Kong Ltd boosted its position in Belden by 88.0% during the first quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 241 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in Belden by 8.2% during the first quarter. Guggenheim Capital LLC now owns 7,862 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 595 shares in the last quarter. 99.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of BDC opened at $49.97 on Thursday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 32.03 and a beta of 1.32. Belden has a 1 year low of $45.31 and a 1 year high of $68.87. The business’s 50 day simple moving average is $53.99 and its 200-day simple moving average is $56.66. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.39 and a quick ratio of 1.71.

Belden (NYSE:BDC – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.22. Belden had a return on equity of 25.14% and a net margin of 2.86%. The company had revenue of $610.40 million for the quarter, compared to analyst estimates of $572.62 million. During the same quarter in the prior year, the firm posted $0.94 EPS. Belden’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts expect that Belden will post 5.75 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 7th. Shareholders of record on Thursday, June 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, June 15th. Belden’s dividend payout ratio (DPR) is presently 12.82%.

Belden Company Profile (Get Rating)

Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber, and home and building automation.

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