Belden (NYSE:BDC) Posts Earnings Results, Beats Expectations By $0.19 EPS

Belden (NYSE:BDC) issued its quarterly earnings results on Thursday. The industrial products company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19, Briefing.com reports. Belden had a return on equity of 23.11% and a net margin of 9.01%. The firm had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. During the same quarter in the prior year, the business posted $1.68 earnings per share. Belden’s revenue for the quarter was down 16.5% on a year-over-year basis. Belden updated its Q2 guidance to $1.30-1.40 EPS.

Belden Stock Performance

BDC stock traded down $0.68 during trading on Friday, hitting $88.23. 278,817 shares of the company’s stock traded hands, compared to its average volume of 234,599. The stock has a fifty day moving average price of $87.12 and a two-hundred day moving average price of $78.22. The company has a quick ratio of 1.72, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. Belden has a 52 week low of $60.54 and a 52 week high of $99.13. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio is presently 3.91%.

Insider Activity

In other news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the transaction, the executive vice president now directly owns 21,772 shares of the company’s stock, valued at $1,791,835.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

BDC has been the subject of a number of research analyst reports. Truist Financial lifted their price target on shares of Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Belden presently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

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.