FY2017 Earnings Estimate for Belden Inc (BDC) Issued By SunTrust Banks
Belden Inc (NYSE:BDC) – Equities research analysts at SunTrust Banks raised their FY2017 earnings per share (EPS) estimates for shares of Belden in a report released on Wednesday. SunTrust Banks analyst W. Stein now expects that the industrial products company will post earnings of $5.49 per share for the year, up from their previous forecast of $5.46. SunTrust Banks also issued estimates for Belden’s Q4 2017 earnings at $1.76 EPS, Q1 2018 earnings at $1.09 EPS, Q2 2018 earnings at $1.25 EPS, Q3 2018 earnings at $1.61 EPS, Q4 2018 earnings at $1.84 EPS and FY2018 earnings at $6.11 EPS.
BDC has been the subject of a number of other research reports. TheStreet lowered shares of Belden from a “b” rating to a “c+” rating in a research note on Wednesday, November 1st. BidaskClub lowered shares of Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. ValuEngine upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Guggenheim assumed coverage on shares of Belden in a report on Tuesday, July 11th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Belden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Belden presently has a consensus rating of “Buy” and an average price target of $86.63.
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Belden (BDC) opened at $82.26 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 1.79. Belden has a 12-month low of $62.62 and a 12-month high of $86.31. The company has a market cap of $3,480.00, a PE ratio of 16.02 and a beta of 2.26.
Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.08. The firm had revenue of $621.74 million for the quarter, compared to analyst estimates of $626.05 million. Belden had a net margin of 4.03% and a return on equity of 17.52%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share.
In other Belden news, Chairman John S. Stroup sold 17,227 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $84.75, for a total transaction of $1,459,988.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $78.91, for a total value of $292,677.19. Following the transaction, the senior vice president now directly owns 4,967 shares in the company, valued at $391,945.97. The disclosure for this sale can be found here. Insiders sold a total of 21,230 shares of company stock valued at $1,775,189 over the last quarter. 1.31% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its holdings in shares of Belden by 21.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 25,877 shares of the industrial products company’s stock worth $1,790,000 after acquiring an additional 4,492 shares in the last quarter. Teachers Advisors LLC grew its position in Belden by 3.1% in the 1st quarter. Teachers Advisors LLC now owns 72,017 shares of the industrial products company’s stock valued at $4,983,000 after acquiring an additional 2,162 shares during the last quarter. Legal & General Group Plc grew its position in Belden by 20.9% in the 1st quarter. Legal & General Group Plc now owns 28,792 shares of the industrial products company’s stock valued at $1,992,000 after acquiring an additional 4,980 shares during the last quarter. Vanguard Group Inc. grew its position in Belden by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 3,554,054 shares of the industrial products company’s stock valued at $245,905,000 after acquiring an additional 189,152 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Belden by 10.4% during the 1st quarter. Geode Capital Management LLC now owns 329,175 shares of the industrial products company’s stock worth $22,775,000 after buying an additional 30,883 shares in the last quarter.
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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