Equities analysts expect that Belden Inc. (NYSE:BDC) will announce sales of $495.62 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Belden’s earnings. The lowest sales estimate is $494.24 million and the highest is $497.00 million. Belden reported sales of $463.53 million in the same quarter last year, which indicates a positive year over year growth rate of 6.9%. The business is scheduled to issue its next earnings report on Wednesday, May 5th.
According to Zacks, analysts expect that Belden will report full year sales of $2.02 billion for the current fiscal year, with estimates ranging from $2.01 billion to $2.04 billion. For the next financial year, analysts expect that the firm will post sales of $2.03 billion, with estimates ranging from $1.97 billion to $2.08 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Belden.
Belden (NYSE:BDC) last issued its quarterly earnings results on Tuesday, February 9th. The industrial products company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.13. The company had revenue of $498.50 million during the quarter, compared to analyst estimates of $481.81 million. Belden had a negative net margin of 10.95% and a positive return on equity of 15.55%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 EPS.
Shares of NYSE:BDC traded down $0.58 during trading on Thursday, reaching $43.92. The company had a trading volume of 11,924 shares, compared to its average volume of 343,269. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.66 and a current ratio of 2.20. The firm’s fifty day moving average is $46.10 and its 200 day moving average is $38.32. Belden has a twelve month low of $25.54 and a twelve month high of $54.80. The firm has a market capitalization of $1.96 billion, a PE ratio of -9.41 and a beta of 1.57.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 7th. Stockholders of record on Friday, March 12th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. Belden’s dividend payout ratio is currently 4.42%.
In other Belden news, Director Jonathan C. Klein sold 1,676 shares of the company’s stock in a transaction that occurred on Wednesday, December 2nd. The shares were sold at an average price of $40.14, for a total value of $67,274.64. Following the transaction, the director now owns 15,913 shares in the company, valued at approximately $638,747.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Judy L. Brown sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $41.39, for a total transaction of $165,560.00. Following the completion of the transaction, the director now owns 22,258 shares in the company, valued at approximately $921,258.62. The disclosure for this sale can be found here. Insiders have sold 13,093 shares of company stock worth $531,146 in the last 90 days. 1.21% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in Belden by 5.7% in the 4th quarter. Principal Financial Group Inc. now owns 174,352 shares of the industrial products company’s stock valued at $7,305,000 after buying an additional 9,358 shares during the period. JPMorgan Chase & Co. grew its position in Belden by 66.0% in the fourth quarter. JPMorgan Chase & Co. now owns 110,146 shares of the industrial products company’s stock worth $4,615,000 after acquiring an additional 43,788 shares in the last quarter. SummerHaven Investment Management LLC bought a new stake in Belden in the fourth quarter worth approximately $561,000. Cim Investment Mangement Inc. bought a new stake in Belden in the fourth quarter worth approximately $219,000. Finally, Morgan Stanley boosted its holdings in shares of Belden by 1,785.3% during the 4th quarter. Morgan Stanley now owns 120,091 shares of the industrial products company’s stock worth $5,032,000 after buying an additional 113,721 shares during the period.
Belden Company Profile
Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.
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