Belden (BDC) Set to Announce Earnings on Thursday

Belden (NYSE:BDC) is set to announce its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $1.60 per share for the quarter. Belden has set its Q3 2024 guidance at 1.550-1.650 EPS and its Q3 guidance at $1.55-1.65 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm had revenue of $604.34 million for the quarter, compared to the consensus estimate of $574.32 million. During the same period last year, the firm posted $1.91 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, analysts expect Belden to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Belden Stock Up 0.0 %

Shares of NYSE BDC opened at $116.57 on Thursday. The stock has a market cap of $4.74 billion, a PE ratio of 22.81 and a beta of 1.07. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. Belden has a 12-month low of $60.54 and a 12-month high of $123.03. The company has a 50-day moving average of $110.00 and a 200 day moving average of $98.47.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Benchmark lifted their price objective on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Vertical Research started coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target on the stock. Finally, Truist Financial upped their price objective on shares of Belden from $123.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $112.00.

Insiders Place Their Bets

In other news, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at $3,298,001.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction that occurred on 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 sale, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the business’s 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 in the company, valued at approximately $3,298,001.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,318 shares of company stock valued at $1,020,715 over the last quarter. 1.59% of the stock is owned by insiders.

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.