Belden (NYSE:BDC – Get Free Report) announced its quarterly earnings results on Thursday. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19, Briefing.com reports. The firm had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 earnings per share. Belden updated its Q2 guidance to $1.30-1.40 EPS.
Belden Price Performance
Shares of NYSE BDC traded down $0.68 during trading hours on Friday, reaching $88.23. 278,817 shares of the stock traded hands, compared to its average volume of 234,599. Belden has a 52-week low of $60.54 and a 52-week high of $99.13. The company has a quick ratio of 1.72, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The company’s 50-day simple moving average is $87.12 and its two-hundred day simple moving average is $78.23. The company has a market capitalization of $3.59 billion, a P/E ratio of 17.27 and a beta of 1.07.
Belden Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden’s payout ratio is currently 3.91%.
Insiders Place Their Bets
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on BDC shares. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Thursday. Truist Financial lifted their price target on Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.00.
View Our Latest Analysis on Belden
About Belden
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.
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