Belden (NYSE:BDC) Issues Q1 Earnings Guidance

Belden (NYSE:BDCGet Free Report) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $1.00-1.10 for the period, compared to the consensus EPS estimate of $1.04. The company issued revenue guidance of $505-520 million, compared to the consensus revenue estimate of $513.30 million. Belden also updated its Q1 2024 guidance to 1.000-1.100 EPS.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Belden from $89.00 to $98.00 and gave the stock a buy rating in a research report on Friday. Loop Capital cut their target price on shares of Belden from $110.00 to $105.00 and set a buy rating on the stock in a research report on Monday, October 16th. StockNews.com upgraded shares of Belden from a hold rating to a buy rating in a research report on Wednesday, December 13th. Finally, The Goldman Sachs Group cut their target price on shares of Belden from $106.00 to $91.00 and set a buy rating on the stock in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $103.40.

Check Out Our Latest Analysis on BDC

Belden Price Performance

BDC stock opened at $83.23 on Friday. The company has a fifty day moving average price of $74.90 and a 200-day moving average price of $80.47. The company has a market capitalization of $3.47 billion, a P/E ratio of 14.70 and a beta of 1.02. Belden has a 52-week low of $60.54 and a 52-week high of $99.13. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.95 and a current ratio of 2.30.

Belden (NYSE:BDCGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.34. The firm had revenue of $551.24 million during the quarter, compared to the consensus estimate of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 earnings per share. As a group, equities analysts expect that Belden will post 5.33 EPS for the current year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 9th. Investors of record on Thursday, December 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, December 13th. Belden’s dividend payout ratio is presently 3.53%.

Insider Buying and Selling

In other news, SVP Leah Tate bought 1,550 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $64.53 per share, with a total value of $100,021.50. Following the completion of the purchase, the senior vice president now directly owns 3,360 shares of the company’s stock, valued at $216,820.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Belden

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc bought a new position in Belden during the second quarter worth $36,000. State of Wyoming increased its stake in Belden by 403.4% in the second quarter. State of Wyoming now owns 438 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 351 shares in the last quarter. NewEdge Advisors LLC increased its stake in Belden by 287.2% in the first quarter. NewEdge Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 336 shares in the last quarter. Quarry LP increased its stake in Belden by 153.6% in the first quarter. Quarry LP now owns 459 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 278 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its stake in Belden by 88.0% in 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. Institutional investors own 99.16% of the company’s stock.

About Belden

(Get Free Report)

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 Automation 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.

Further Reading

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