Belden (NYSE:BDC) Posts Earnings Results, Beats Estimates By $0.09 EPS

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

Belden Stock Performance

Shares of BDC stock opened at $115.24 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70. Belden has a fifty-two week low of $60.54 and a fifty-two week high of $123.03. The stock has a 50 day moving average price of $112.21 and a two-hundred day moving average price of $99.96. The company has a market capitalization of $4.70 billion, a P/E ratio of 26.80 and a beta of 1.07.

Belden Announces Dividend

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

Wall Street Analysts Forecast Growth

BDC has been the subject of a number of analyst reports. Vertical Research initiated coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target for the company. Truist Financial increased their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Benchmark raised their target price on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden presently has a consensus rating of “Buy” and a consensus target price of $116.40.

Insider Buying and Selling 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 value of $122,148.98. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Brian Edward Anderson sold 1,262 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were 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 $3,812,074.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the sale, the director now owns 6,954 shares of the company’s stock, valued at $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,318 shares of company stock worth $1,020,715. 1.59% of the stock is currently owned by insiders.

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.