Belden (NYSE:BDC) Posts Earnings Results, Beats Expectations By $0.10 EPS

Belden (NYSE:BDC) issued its earnings results on Thursday. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.10, Briefing.com reports. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. Belden updated its Q4 guidance to $1.62-1.72 EPS and its Q4 2024 guidance to 1.620-1.720 EPS.

Belden Price Performance

BDC traded up $1.31 on Friday, hitting $115.18. 165,446 shares of the company’s stock traded hands, compared to its average volume of 271,572. Belden has a one year low of $60.54 and a one year high of $123.03. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 24.67 and a beta of 1.07. The company’s 50 day simple moving average is $112.04 and its 200-day simple moving average is $99.75.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden’s payout ratio is 4.26%.

Insider Buying and Selling at Belden

In related news, SVP Brian Edward Anderson sold 1,262 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares in the company, valued at approximately $3,812,074.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the transaction, the director now owns 6,954 shares in the company, valued at $667,444.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian Edward Anderson sold 1,262 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the sale, the senior vice president now directly owns 39,385 shares of the company’s stock, valued at approximately $3,812,074.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,318 shares of company stock valued at $1,020,715 in the last three months. 1.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BDC has been the topic of a number of analyst reports. Vertical Research initiated coverage on shares of Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective on the stock. Benchmark boosted their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday. Finally, Truist Financial lifted their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden presently has a consensus rating of “Buy” and an average price target of $116.40.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation 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 to the home, and building automation.