ValuEngine upgraded shares of Belden Inc (NYSE:BDC) from a hold rating to a buy rating in a research note issued to investors on Monday.
A number of other research firms also recently weighed in on BDC. Deutsche Bank AG upped their price target on shares of Belden from $85.00 to $92.00 and gave the stock a buy rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Belden from a hold rating to a strong-buy rating and set a $86.00 price target on the stock in a research note on Tuesday, July 11th. CL King started coverage on shares of Belden in a research note on Wednesday, June 21st. They issued a neutral rating on the stock. Canaccord Genuity reiterated a buy rating and issued a $83.00 price objective on shares of Belden in a report on Friday, August 4th. Finally, Guggenheim started coverage on shares of Belden in a report on Tuesday, July 11th. They issued a buy rating and a $90.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $85.25.
Belden (NYSE BDC) opened at 77.53 on Monday. The company has a 50-day moving average price of $73.91 and a 200-day moving average price of $72.19. Belden has a one year low of $60.06 and a one year high of $81.33. The firm has a market cap of $3.28 billion, a PE ratio of 33.71 and a beta of 2.27.
Belden (NYSE:BDC) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.08. Belden had a net margin of 5.53% and a return on equity of 16.31%. The business had revenue of $610.63 million for the quarter, compared to the consensus estimate of $608.16 million. During the same period in the prior year, the business posted $1.54 earnings per share. Belden’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts predict that Belden will post $5.44 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Friday, September 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Thursday, September 14th. Belden’s dividend payout ratio is presently 8.66%.
Belden announced that its Board of Directors has initiated a share buyback program on Thursday, May 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
A number of large investors have recently modified their holdings of the stock. Greenwood Capital Associates LLC boosted its holdings in Belden by 0.5% in the second quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 14 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Belden by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 3,372 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 15 shares in the last quarter. RMB Capital Management LLC boosted its holdings in Belden by 0.3% in the first quarter. RMB Capital Management LLC now owns 17,234 shares of the industrial products company’s stock worth $1,192,000 after purchasing an additional 60 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Belden by 0.3% during the second quarter. Public Employees Retirement System of Ohio now owns 26,132 shares of the industrial products company’s stock valued at $1,971,000 after acquiring an additional 90 shares during the period. Finally, State Treasurer State of Michigan boosted its holdings in Belden by 0.6% during the first quarter. State Treasurer State of Michigan now owns 17,100 shares of the industrial products company’s stock valued at $1,183,000 after acquiring an additional 100 shares during the period.
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).
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