Belden (NYSE:BDC) Posts Earnings Results, Beats Expectations By $0.10 EPS

Belden (NYSE:BDC) posted its quarterly earnings data on Thursday. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.10, Briefing.com reports. Belden had a return on equity of 21.13% and a net margin of 8.51%. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter last year, the firm earned $1.78 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. 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 Belden stock traded up $0.91 on Friday, reaching $114.78. The company’s stock had a trading volume of 175,018 shares, compared to its average volume of 271,618. The stock has a 50-day moving average price of $112.04 and a 200-day moving average price of $99.75. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. Belden has a 52-week low of $60.54 and a 52-week high of $123.03. The company has a market capitalization of $4.68 billion, a P/E ratio of 24.67 and a beta of 1.07.

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 given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 4.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BDC shares. Truist Financial lifted their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday. Benchmark lifted their target price on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday. Finally, Vertical Research initiated coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $116.40.

Insiders Place Their Bets

In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares in the company, valued at $3,812,074.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the transaction, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brian Edward Anderson sold 1,262 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the completion of the transaction, the senior vice president now owns 39,385 shares in the company, valued at approximately $3,812,074.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,318 shares of company stock worth $1,020,715 in the last quarter. 1.59% of the stock is owned by company insiders.

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.