Brokerages Expect Belden Inc. (BDC) Will Announce Quarterly Sales of $586.13 Million

Analysts predict that Belden Inc. (NYSE:BDC) will post $586.13 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Belden’s earnings, with estimates ranging from $585.00 million to $587.50 million. Belden posted sales of $551.38 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The business is scheduled to issue its next earnings results on Wednesday, May 2nd.

On average, analysts expect that Belden will report full year sales of $586.13 million for the current financial year, with estimates ranging from $2.55 billion to $2.57 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.62 billion per share, with estimates ranging from $2.57 billion to $2.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Belden.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.15). Belden had a return on equity of 18.20% and a net margin of 3.90%. The business had revenue of $604.88 million during the quarter, compared to the consensus estimate of $648.92 million. During the same quarter in the prior year, the firm posted $1.42 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis.

BDC has been the topic of several research reports. Guggenheim restated a “buy” rating and issued a $90.00 price target on shares of Belden in a research report on Wednesday, December 6th. Cross Research upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Canaccord Genuity restated a “buy” rating and issued a $94.00 price target on shares of Belden in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Friday, November 3rd. Finally, TheStreet cut shares of Belden from a “b” rating to a “c+” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Belden presently has an average rating of “Hold” and an average price target of $89.50.

A number of hedge funds have recently bought and sold shares of BDC. Boston Partners increased its position in Belden by 231.9% during the third quarter. Boston Partners now owns 2,264,337 shares of the industrial products company’s stock valued at $182,347,000 after acquiring an additional 1,582,031 shares during the last quarter. Macquarie Group Ltd. bought a new position in Belden during the second quarter valued at $23,082,000. Royal Bank of Canada increased its position in Belden by 3,024.6% during the second quarter. Royal Bank of Canada now owns 236,942 shares of the industrial products company’s stock valued at $17,873,000 after acquiring an additional 229,359 shares during the last quarter. Janus Henderson Group PLC increased its position in Belden by 3.6% during the third quarter. Janus Henderson Group PLC now owns 5,072,653 shares of the industrial products company’s stock valued at $408,501,000 after acquiring an additional 174,365 shares during the last quarter. Finally, Rothschild Asset Management Inc. bought a new position in Belden during the third quarter valued at $9,356,000.

Shares of Belden (NYSE BDC) opened at $72.79 on Wednesday. Belden has a 1 year low of $64.60 and a 1 year high of $87.14. The firm has a market cap of $3,136.89, a price-to-earnings ratio of 53.13 and a beta of 2.29. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.03 and a quick ratio of 1.59.

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Belden Company Profile

Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).

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