Analysts Set Belden Inc. (NYSE:BDC) Target Price at $62.84

Shares of Belden Inc. (NYSE:BDC) have been assigned an average rating of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $62.84.

A number of brokerages have commented on BDC. SunTrust Banks reduced their price target on shares of Belden to $54.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. ValuEngine cut shares of Belden from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus cut their target price on shares of Belden from $70.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Belden from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st.

NYSE BDC traded up $1.06 on Friday, reaching $50.61. 1,075 shares of the company’s stock traded hands, compared to its average volume of 285,208. Belden has a 12 month low of $37.79 and a 12 month high of $65.02. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.89 and a quick ratio of 1.37. The stock has a 50-day simple moving average of $49.59 and a 200 day simple moving average of $53.57. The stock has a market cap of $2.25 billion, a PE ratio of 8.37 and a beta of 2.39.

Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.01). Belden had a net margin of 7.76% and a return on equity of 19.29%. The business had revenue of $637.50 million for the quarter, compared to the consensus estimate of $641.65 million. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. As a group, analysts anticipate that Belden will post 5.54 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Thursday, September 19th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.40%. The ex-dividend date was Wednesday, September 18th. Belden’s dividend payout ratio (DPR) is currently 3.30%.

In related news, SVP Leo Kulmaczewski purchased 800 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $45.46 per share, for a total transaction of $36,368.00. Following the completion of the acquisition, the senior vice president now directly owns 10,692 shares in the company, valued at approximately $486,058.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.52% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in Belden by 6.5% in the second quarter. Janus Henderson Group PLC now owns 5,537,725 shares of the industrial products company’s stock valued at $329,882,000 after acquiring an additional 338,127 shares in the last quarter. Northern Trust Corp lifted its position in Belden by 7.0% during the second quarter. Northern Trust Corp now owns 1,044,727 shares of the industrial products company’s stock valued at $62,233,000 after buying an additional 68,429 shares during the period. LSV Asset Management lifted its position in Belden by 56.0% during the second quarter. LSV Asset Management now owns 799,500 shares of the industrial products company’s stock valued at $47,626,000 after buying an additional 287,100 shares during the period. Macquarie Group Ltd. lifted its position in Belden by 3.9% during the second quarter. Macquarie Group Ltd. now owns 761,399 shares of the industrial products company’s stock valued at $45,357,000 after buying an additional 28,796 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Belden by 4.3% during the second quarter. Wells Fargo & Company MN now owns 586,660 shares of the industrial products company’s stock valued at $34,947,000 after buying an additional 24,409 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.

Belden Company Profile

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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Analyst Recommendations for Belden (NYSE:BDC)

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