Belden (NYSE:BDC) Announces Quarterly Earnings Results

Belden (NYSE:BDC) issued its quarterly earnings results on Thursday. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14, Briefing.com reports. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company had revenue of $604.34 million during the quarter, compared to the consensus estimate of $574.32 million. During the same period in the prior year, the company earned $1.91 EPS. Belden’s revenue was down 12.7% on a year-over-year basis. Belden updated its Q3 2024 guidance to 1.550-1.650 EPS and its Q3 guidance to $1.55-1.65 EPS.

Belden Stock Performance

Belden stock traded down $1.17 during trading hours on Friday, reaching $99.35. 625,746 shares of the company were exchanged, compared to its average volume of 272,832. Belden has a 12 month low of $60.54 and a 12 month high of $102.47. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 19.44 and a beta of 1.06. The company has a current ratio of 1.70, a quick ratio of 1.83 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $94.40 and a 200 day moving average of $88.57.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th were given a $0.05 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.20%. Belden’s dividend payout ratio is currently 3.91%.

Insider Transactions at Belden

In other Belden news, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the sale, the executive vice president now owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Belden news, EVP Brian Lieser sold 819 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the sale, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the transaction, the director now directly owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,219 shares of company stock worth $986,641. 1.59% of the stock is owned by insiders.

Analyst Ratings Changes

BDC has been the topic of a number of recent research reports. Truist Financial lifted their target price on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday. Benchmark boosted their price target on shares of Belden from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Loop Capital increased their price objective on Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Vertical Research started coverage on Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.67.

Belden Company Profile

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.