Belden (NYSE:BDC) Announces Earnings Results

Belden (NYSE:BDC) announced its earnings results on Thursday. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.10, Briefing.com reports. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Belden updated its Q4 guidance to $1.62-1.72 EPS and its Q4 2024 guidance to 1.620-1.720 EPS.

Belden Price Performance

Belden stock traded up $0.91 during mid-day trading on Friday, reaching $114.78. The company had a trading volume of 175,018 shares, compared to its average volume of 271,618. Belden has a 1 year low of $60.54 and a 1 year high of $123.03. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25. The company has a market capitalization of $4.68 billion, a P/E ratio of 24.67 and a beta of 1.07. The stock’s 50-day simple moving average is $112.04 and its 200-day simple moving average is $99.75.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden’s dividend payout ratio (DPR) is presently 4.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BDC shares. Vertical Research started coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Benchmark raised their price objective on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday. Finally, Truist Financial raised their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $116.40.

Insider Buying and Selling at Belden

In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the sale, the director now directly owns 6,954 shares of the company’s stock, valued at $667,444.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,318 shares of company stock valued at $1,020,715. Corporate insiders own 1.59% of the company’s stock.

Belden Company Profile

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.