Belden (NYSE:BDC) Issues FY 2022 Earnings Guidance

Belden (NYSE:BDCGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $5.55-$5.85 for the period, compared to the consensus estimate of $5.19. The company issued revenue guidance of $2.48 billion-$2.53 billion, compared to the consensus revenue estimate of $2.43 billion.Belden also updated its Q2 2022 guidance to $1.35-$1.45 EPS.

Shares of Belden stock traded up $0.21 during trading hours on Monday, hitting $55.63. The company’s stock had a trading volume of 339,084 shares, compared to its average volume of 298,931. Belden has a twelve month low of $45.31 and a twelve month high of $68.87. The firm has a fifty day moving average of $54.02 and a 200-day moving average of $58.70. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 35.66 and a beta of 1.33. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.56 and a current ratio of 2.39.

Belden (NYSE:BDCGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.10 by $0.21. Belden had a return on equity of 25.14% and a net margin of 2.86%. The business had revenue of $610.40 million for the quarter, compared to analyst estimates of $572.62 million. During the same quarter in the prior year, the company posted $0.94 EPS. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts expect that Belden will post 5.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Thursday, March 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Wednesday, March 9th. Belden’s payout ratio is 12.82%.

BDC has been the topic of several recent research reports. Canaccord Genuity Group upped their price target on Belden from $82.00 to $88.00 and gave the stock a buy rating in a report on Thursday. TheStreet downgraded shares of Belden from a b rating to a c+ rating in a research report on Thursday, February 10th. Truist Financial cut their price objective on shares of Belden from $86.00 to $65.00 and set a buy rating for the company in a research report on Friday, April 8th. The Goldman Sachs Group upgraded shares of Belden from a sell rating to a neutral rating and cut their price objective for the stock from $57.00 to $55.00 in a research report on Tuesday, April 19th. Finally, Zacks Investment Research raised shares of Belden from a sell rating to a hold rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $72.20.

In other Belden news, Director Jonathan C. Klein sold 4,000 shares of the stock in a transaction on Friday, February 18th. The shares were sold at an average price of $54.77, for a total transaction of $219,080.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of BDC. Amalgamated Bank raised its stake in shares of Belden by 0.6% in the 4th quarter. Amalgamated Bank now owns 29,820 shares of the industrial products company’s stock worth $1,960,000 after buying an additional 179 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Belden by 0.6% in the 4th quarter. MetLife Investment Management LLC now owns 37,117 shares of the industrial products company’s stock worth $2,440,000 after buying an additional 211 shares in the last quarter. Vident Investment Advisory LLC raised its position in shares of Belden by 4.9% during the fourth quarter. Vident Investment Advisory LLC now owns 19,783 shares of the industrial products company’s stock worth $1,300,000 after purchasing an additional 932 shares during the period. Deutsche Bank AG raised its position in shares of Belden by 4.3% during the fourth quarter. Deutsche Bank AG now owns 30,794 shares of the industrial products company’s stock worth $2,024,000 after purchasing an additional 1,258 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Belden by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 61,887 shares of the industrial products company’s stock worth $4,068,000 after purchasing an additional 1,297 shares during the period. 99.58% of the stock is currently owned by institutional investors.

About Belden (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.

Further Reading

Earnings History and Estimates for Belden (NYSE:BDC)

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