Belden Inc. (BDC) Receives $80.83 Consensus Target Price from Brokerages
Belden Inc. (NYSE:BDC) has received an average recommendation of “Buy” from the eight ratings firms that are covering the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $80.83.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Belden from a “sell” rating to a “hold” rating in a research report on Wednesday, January 4th. Drexel Hamilton initiated coverage on shares of Belden in a research report on Friday, February 10th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of Belden in a research report on Monday, February 13th. They issued a “neutral” rating and a $76.00 price target on the stock. Finally, Seaport Global Securities initiated coverage on shares of Belden in a research report on Thursday, March 2nd. They issued a “buy” rating and a $82.00 price target on the stock.
Shares of Belden (NYSE:BDC) traded up 1.55% during trading on Monday, hitting $67.62. 252,628 shares of the stock were exchanged. Belden has a 52 week low of $54.97 and a 52 week high of $81.33. The firm has a market capitalization of $2.85 billion, a P/E ratio of 25.52 and a beta of 2.24. The firm has a 50 day moving average price of $68.29 and a 200 day moving average price of $71.80.
Belden (NYSE:BDC) last posted its earnings results on Thursday, February 2nd. The industrial products company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. Belden had a net margin of 5.43% and a return on equity of 20.29%. The business had revenue of $612.40 million for the quarter, compared to the consensus estimate of $616.10 million. During the same period last year, the company earned $1.63 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Analysts forecast that Belden will post $5.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 5th. Stockholders of record on Thursday, March 16th were given a $0.05 dividend. The ex-dividend date was Tuesday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. Belden’s dividend payout ratio (DPR) is currently 7.58%.
In other news, EVP Glenn Pennycook sold 6,306 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $72.86, for a total value of $459,455.16. Following the transaction, the executive vice president now owns 18,343 shares in the company, valued at approximately $1,336,470.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. purchased a new position in shares of Belden during the fourth quarter worth about $105,000. Elkfork Partners LLC purchased a new position in shares of Belden during the fourth quarter worth about $159,000. MUFG Americas Holdings Corp purchased a new position in shares of Belden during the fourth quarter worth about $175,000. LS Investment Advisors LLC increased its position in shares of Belden by 6.9% in the third quarter. LS Investment Advisors LLC now owns 2,696 shares of the industrial products company’s stock worth $186,000 after buying an additional 174 shares during the period. Finally, Doheny Asset Management CA purchased a new position in shares of Belden during the third quarter worth about $200,000.
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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