Belden Inc. (NYSE:BDC – Get Rating) – Equities researchers at Jefferies Financial Group issued their FY2022 EPS estimates for shares of Belden in a note issued to investors on Sunday, January 22nd. Jefferies Financial Group analyst D. Kelley expects that the industrial products company will post earnings per share of $6.33 for the year. Jefferies Financial Group currently has a “Hold” rating and a $86.00 target price on the stock. The consensus estimate for Belden’s current full-year earnings is $6.33 per share. Jefferies Financial Group also issued estimates for Belden’s Q4 2022 earnings at $1.65 EPS, Q1 2023 earnings at $1.54 EPS, Q2 2023 earnings at $1.60 EPS, Q3 2023 earnings at $1.64 EPS, Q4 2023 earnings at $1.61 EPS, FY2023 earnings at $6.39 EPS and FY2024 earnings at $7.03 EPS.
Several other research analysts have also commented on the company. The Goldman Sachs Group lifted their price target on Belden from $67.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, November 3rd. StockNews.com assumed coverage on Belden in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Finally, Truist Financial raised their price objective on Belden from $77.00 to $82.00 in a research report on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Belden currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.
Belden Stock Up 0.8 %
Belden (NYSE:BDC – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.20. The company had revenue of $670.49 million for the quarter, compared to analyst estimates of $634.29 million. Belden had a return on equity of 26.35% and a net margin of 5.53%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS.
Belden Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Wednesday, December 14th. Belden’s dividend payout ratio is currently 6.21%.
Insider Buying and Selling at Belden
In other Belden news, Director Jonathan C. Klein sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $79.82, for a total value of $79,820.00. Following the completion of the sale, the director now owns 14,053 shares in the company, valued at $1,121,710.46. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.06% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of BDC. Point72 Hong Kong Ltd grew its holdings in Belden by 88.0% in the first quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 241 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in Belden by 483.0% in the second quarter. Pinebridge Investments L.P. now owns 583 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 483 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in Belden in the third quarter valued at $32,000. Skandinaviska Enskilda Banken AB publ grew its holdings in Belden by 164.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 569 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 354 shares during the last quarter. Finally, Ronald Blue Trust Inc. grew its holdings in Belden by 444.0% in the fourth quarter. Ronald Blue Trust Inc. now owns 631 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 515 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.
Belden Company Profile
Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.
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