Belden (NYSE:BDC) Issues Quarterly Earnings Results

Belden (NYSE:BDC) released its quarterly earnings results on Thursday. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.61 by $0.09, Briefing.com reports. The company had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 earnings per share. Belden updated its Q4 guidance to $1.62-1.72 EPS and its Q4 2024 guidance to 1.620-1.720 EPS.

Belden Trading Up 1.2 %

Shares of Belden stock opened at $115.24 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 26.80 and a beta of 1.07. Belden has a 52-week low of $60.54 and a 52-week high of $123.03. The company’s 50-day simple moving average is $112.21 and its 200-day simple moving average is $99.96.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BDC shares. Benchmark lifted their target price on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday. Vertical Research started coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price for the company. Finally, Truist Financial raised their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden currently has a consensus rating of “Buy” and a consensus target price of $116.40.

Insider Activity at Belden

In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the transaction, the senior vice president now owns 39,385 shares in the company, valued at approximately $3,812,074.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of Belden stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares of the company’s stock, valued at approximately $3,812,074.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,318 shares of company stock worth $1,020,715 over the last 90 days. Company insiders own 1.59% of the company’s stock.

About Belden

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications 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 to the home, and building automation.