Belden (NYSE:BDC) Releases FY22 Earnings Guidance

Belden (NYSE:BDCGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.55-5.85 for the period, compared to the Thomson Reuters consensus estimate of $5.16. The company issued revenue guidance of $2.48-2.53 billion, compared to the consensus revenue estimate of $2.43 billion.Belden also updated its Q2 guidance to $1.35-1.45 EPS.

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Belden from a sell rating to a neutral rating and cut their price objective for the company from $57.00 to $55.00 in a report on Tuesday, April 19th. TheStreet downgraded Belden from a b rating to a c+ rating in a research report on Thursday, February 10th. StockNews.com upgraded Belden from a buy rating to a strong-buy rating in a research report on Thursday, April 21st. Zacks Investment Research downgraded Belden from a hold rating to a sell rating in a research report on Monday, April 25th. Finally, Truist Financial lowered their target price on Belden from $86.00 to $65.00 and set a buy rating for the company in a research report on Friday, April 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus target price of $66.80.

NYSE:BDC opened at $52.31 on Wednesday. Belden has a twelve month low of $42.06 and a twelve month high of $68.87. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 37.10 and a beta of 1.32. The stock has a fifty day simple moving average of $54.01 and a 200-day simple moving average of $58.79. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 1.53.

Belden (NYSE:BDCGet Rating) last released its earnings results on Wednesday, February 9th. The industrial products company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. Belden had a return on equity of 23.96% and a net margin of 2.65%. The business had revenue of $638.91 million during the quarter, compared to the consensus estimate of $622.90 million. During the same period last year, the company earned $0.90 earnings per share. As a group, equities research analysts predict that Belden will post 5.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Thursday, March 10th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. Belden’s dividend payout ratio (DPR) is 14.18%.

In other news, Director Jonathan C. Klein sold 4,000 shares of the firm’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $54.77, for a total transaction of $219,080.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. LPL Financial LLC purchased a new position in shares of Belden during the third quarter valued at $217,000. Janus Henderson Group PLC purchased a new position in Belden in the third quarter valued at about $263,000. Guggenheim Capital LLC purchased a new position in Belden in the fourth quarter valued at about $478,000. Susquehanna International Group LLP grew its stake in Belden by 73.1% in the fourth quarter. Susquehanna International Group LLP now owns 8,336 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 3,521 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in Belden in the fourth quarter valued at about $690,000. Hedge funds and other institutional investors own 99.58% of the company’s stock.

Belden Company Profile (Get Rating)

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.

See Also

Earnings History and Estimates for Belden (NYSE:BDC)

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