Belden (NYSE:BDC) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Belden (NYSE:BDC) released its quarterly earnings data on Thursday. The industrial products company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09, Briefing.com reports. The business had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. Belden’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. 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

Shares of NYSE:BDC opened at $115.24 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The stock has a market cap of $4.70 billion, a PE ratio of 26.80 and a beta of 1.07. The company’s fifty day moving average is $112.21 and its 200 day moving average is $99.96. Belden has a 52 week low of $60.54 and a 52 week high of $123.03.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were paid a $0.05 dividend. The ex-dividend date 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 4.65%.

Insider Buying and Selling at Belden

In related news, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now directly owns 6,954 shares in the company, valued at $667,444.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction 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 sale, the director now owns 6,954 shares of the company’s stock, valued at $667,444.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now owns 39,385 shares in the company, valued at $3,812,074.15. 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 worth $1,020,715 over the last three months. Company insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

BDC has been the subject of several analyst reports. Vertical Research began coverage on Belden in a research note on Tuesday, July 23rd. They issued 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 upped their target price on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $116.40.

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.