Belden Inc (BDC) Updates Q4 Earnings Guidance
Belden Inc (NYSE:BDC) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.71-1.81 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.79. The company issued revenue guidance of $641-661 million, compared to the consensus revenue estimate of $641.05 million.
Belden Inc (NYSE:BDC) traded up 2.25% during midday trading on Wednesday, reaching $81.71. The company’s stock had a trading volume of 185,288 shares. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 35.53 and a beta of 2.26. The company’s 50-day moving average is $81.83 and its 200 day moving average is $75.53. Belden Inc has a 12-month low of $60.06 and a 12-month high of $86.31.
Belden (NYSE:BDC) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.08. Belden had a net margin of 5.53% and a return on equity of 16.31%. The company had revenue of $621.74 million for the quarter, compared to analyst estimates of $626.05 million. During the same period in the prior year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts forecast that Belden Inc will post $5.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th were given a $0.05 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Belden’s dividend payout ratio is presently 8.66%.
Several analysts have recently commented on BDC shares. Canaccord Genuity reiterated a buy rating and issued a $83.00 price target on shares of Belden in a research report on Friday, August 4th. Deutsche Bank AG increased their price target on shares of Belden from $85.00 to $92.00 and gave the company a buy rating in a research report on Thursday, August 3rd. Guggenheim reiterated a buy rating and issued a $90.00 price target on shares of Belden in a research report on Monday, September 25th. ValuEngine upgraded shares of Belden from a hold rating to a buy rating in a research report on Monday, September 11th. Finally, Zacks Investment Research lowered shares of Belden from a strong-buy rating to a hold rating in a research report on Tuesday, October 3rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $85.88.
In related news, Chairman John S. Stroup sold 17,227 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $84.75, for a total transaction of $1,459,988.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul Keith Turner sold 3,709 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the transaction, the senior vice president now directly owns 4,967 shares in the company, valued at approximately $391,945.97. The disclosure for this sale can be found here. Insiders have sold 21,230 shares of company stock worth $1,775,189 in the last three months. Insiders own 1.31% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Belden Inc (BDC) Updates Q4 Earnings Guidance” was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://theolympiareport.com/2017/11/01/belden-inc-bdc-updates-q4-earnings-guidance.html.
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
Receive News & Ratings for Belden Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.