Analysts Anticipate Belden Inc. (BDC) Will Announce Quarterly Sales of $677.30 Million
Equities research analysts expect Belden Inc. (NYSE:BDC) to post $677.30 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Belden’s earnings, with the highest sales estimate coming in at $681.00 million and the lowest estimate coming in at $665.70 million. Belden reported sales of $621.75 million during the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The company is scheduled to report its next earnings results on Wednesday, November 7th.
On average, analysts expect that Belden will report full-year sales of $2.66 billion for the current year, with estimates ranging from $2.63 billion to $2.67 billion. For the next financial year, analysts forecast that the business will report sales of $2.71 billion per share, with estimates ranging from $2.66 billion to $2.75 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Belden.
Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.06. Belden had a net margin of 2.52% and a return on equity of 20.50%. The firm had revenue of $668.64 million during the quarter, compared to the consensus estimate of $661.83 million. During the same period in the prior year, the firm earned $1.29 EPS. The business’s revenue was up 9.5% on a year-over-year basis.
Belden stock traded up $0.78 during mid-day trading on Tuesday, reaching $72.63. The company had a trading volume of 409,268 shares, compared to its average volume of 213,945. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.79 and a quick ratio of 1.26. Belden has a 52 week low of $53.65 and a 52 week high of $87.14. The company has a market cap of $2.95 billion, a PE ratio of 13.58 and a beta of 2.31.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Tuesday, September 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Monday, September 17th. Belden’s payout ratio is currently 3.74%.
Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE lifted its stake in Belden by 83.0% in the second quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock valued at $161,000 after buying an additional 1,192 shares in the last quarter. Howe & Rusling Inc. lifted its position in shares of Belden by 14,270.0% in the second quarter. Howe & Rusling Inc. now owns 2,874 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 2,854 shares in the last quarter. Balter Liquid Alternatives LLC bought a new stake in shares of Belden in the second quarter worth $210,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Belden in the second quarter worth $225,000. Finally, Palouse Capital Management Inc. bought a new stake in shares of Belden in the second quarter worth $227,000.
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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