Belden (BDC) Updates Q2 Earnings Guidance

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Belden (NYSE:BDC) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.30-1.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.37. The company issued revenue guidance of $630-660 million, compared to the consensus revenue estimate of $639.26 million.Belden also updated its FY 2019 guidance to $5.65-6.15 EPS.

A number of equities research analysts have recently weighed in on the company. ValuEngine raised Belden from a strong sell rating to a sell rating in a research note on Thursday, April 11th. Canaccord Genuity upped their price objective on Belden from $60.00 to $70.00 and gave the stock a buy rating in a research report on Thursday, February 21st. Zacks Investment Research raised Belden from a sell rating to a hold rating in a report on Monday. Longbow Research downgraded Belden from a buy rating to a neutral rating and set a $63.27 target price for the company. in a report on Thursday, February 21st. Finally, SunTrust Banks upped their price objective on Belden to $70.00 and gave the company a hold rating in a research note on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Belden has an average rating of Hold and a consensus target price of $69.18.

Shares of BDC traded up $0.53 on Friday, reaching $60.95. The stock had a trading volume of 3,062 shares, compared to its average volume of 488,310. The stock has a market cap of $2.19 billion, a P/E ratio of 10.12 and a beta of 2.56. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.31. Belden has a twelve month low of $37.79 and a twelve month high of $76.39.

Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $587.18 million for the quarter, compared to analysts’ expectations of $577.17 million. Belden had a return on equity of 21.37% and a net margin of 6.22%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. Research analysts expect that Belden will post 5.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 14th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden’s dividend payout ratio is currently 3.30%.

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About Belden

Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.

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Earnings History and Estimates for Belden (NYSE:BDC)

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