$585.75 Million in Sales Expected for Belden (BDC) This Quarter

Equities analysts expect that Belden (NYSE:BDC) will announce $585.75 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Belden’s earnings, with the highest sales estimate coming in at $587.00 million and the lowest estimate coming in at $585.00 million. Belden reported sales of $551.38 million during the same quarter last year, which indicates a positive year over year growth rate of 6.2%. The firm is expected to report its next quarterly earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Belden will report full-year sales of $2.55 billion for the current fiscal year, with estimates ranging from $2.54 billion to $2.57 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.63 billion per share, with estimates ranging from $2.60 billion to $2.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Belden.

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Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.15). The business had revenue of $604.88 million for the quarter, compared to analyst estimates of $648.92 million. Belden had a return on equity of 18.20% and a net margin of 3.90%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 earnings per share.

Several equities analysts have recently issued reports on the company. ValuEngine downgraded Belden from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $90.00 price objective on shares of Belden in a research report on Friday, March 30th. Zacks Investment Research downgraded Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. SunTrust Banks upgraded Belden from a “hold” rating to a “buy” rating in a research report on Monday, March 26th. Finally, Cross Research upgraded Belden from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $91.83.

In related news, SVP Ross Rosenberg sold 779 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $75.00, for a total transaction of $58,425.00. Following the sale, the senior vice president now owns 5,329 shares of the company’s stock, valued at $399,675. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.31% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Belden by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 718 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Belden during the fourth quarter worth approximately $197,000. Zeke Capital Advisors LLC bought a new stake in Belden during the fourth quarter worth approximately $202,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Belden by 550.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 2,229 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in Belden during the third quarter worth approximately $224,000.

Shares of NYSE BDC opened at $66.87 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.02 and a quick ratio of 1.58. The company has a market cap of $2,829.47, a PE ratio of 12.50 and a beta of 2.35. Belden has a 12-month low of $64.51 and a 12-month high of $87.14.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.20 annualized dividend and a yield of 0.30%. Belden’s payout ratio is 3.74%.

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Belden Company Profile

Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.

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