Belden Inc. (BDC) Expected to Announce Quarterly Sales of $649.15 Million
Equities analysts predict that Belden Inc. (NYSE:BDC) will announce sales of $649.15 million for the current quarter, Zacks reports. Five analysts have provided estimates for Belden’s earnings, with the highest sales estimate coming in at $651.20 million and the lowest estimate coming in at $641.90 million. Belden posted sales of $612.44 million in the same quarter last year, which would indicate a positive year over year growth rate of 6%. The firm is scheduled to report its next quarterly earnings report on Thursday, February 1st.
According to Zacks, analysts expect that Belden will report full-year sales of $649.15 million for the current year, with estimates ranging from $2.43 billion to $2.44 billion. For the next year, analysts anticipate that the firm will report sales of $2.52 billion per share, with estimates ranging from $2.51 billion to $2.54 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Belden.
Belden (NYSE:BDC) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.08. The company had revenue of $621.74 million during the quarter, compared to analysts’ expectations of $626.05 million. Belden had a net margin of 4.03% and a return on equity of 17.52%. Belden’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $1.29 earnings per share.
Belden (NYSE:BDC) traded up $1.85 on Tuesday, reaching $81.07. 330,600 shares of the company traded hands, compared to its average volume of 292,289. The stock has a market capitalization of $3,430.00, a PE ratio of 15.47 and a beta of 2.26. Belden has a 52 week low of $64.60 and a 52 week high of $86.85. The company has a quick ratio of 1.79, a current ratio of 2.26 and a debt-to-equity ratio of 1.06.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 15th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.20 annualized dividend and a yield of 0.25%. Belden’s dividend payout ratio (DPR) is currently 13.89%.
In other Belden news, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $84.75, for a total transaction of $1,459,988.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.31% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in BDC. Janus Henderson Group PLC bought a new position in Belden during the second quarter valued at $369,478,000. Boston Partners lifted its holdings in shares of Belden by 231.9% in the 3rd quarter. Boston Partners now owns 2,264,337 shares of the industrial products company’s stock worth $182,347,000 after acquiring an additional 1,582,031 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Belden by 223.2% in the 2nd quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock worth $35,816,000 after acquiring an additional 327,914 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Belden in the 2nd quarter worth about $23,082,000. Finally, Royal Bank of Canada lifted its holdings in shares of Belden by 3,024.6% in the 2nd quarter. Royal Bank of Canada now owns 236,942 shares of the industrial products company’s stock worth $17,873,000 after acquiring an additional 229,359 shares during the last quarter.
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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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