Belden (NYSE:BDC) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.50-6.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.10. The company issued revenue guidance of $2.495-2.595 billion, compared to the consensus revenue estimate of $2.58 billion.Belden also updated its FY19 guidance to $5.50-6.15 EPS.
NYSE:BDC traded down $0.38 during trading hours on Thursday, hitting $57.80. 356,724 shares of the company’s stock traded hands, compared to its average volume of 546,894. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 9.54 and a beta of 2.61. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.31 and a current ratio of 1.76. Belden has a 52 week low of $37.79 and a 52 week high of $78.10.
Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, February 20th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. Belden had a return on equity of 21.37% and a net margin of 6.22%. The company had revenue of $655.39 million for the quarter, compared to the consensus estimate of $661.84 million. During the same quarter in the previous year, the business earned $1.62 EPS. Belden’s revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Belden will post 5.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Thursday, March 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.35%. Belden’s dividend payout ratio (DPR) is presently 3.30%.
Belden announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 29th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 13.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
Several research firms have recently commented on BDC. Goldman Sachs Group lowered Belden from a buy rating to a neutral rating and set a $55.78 price objective for the company. in a research note on Sunday, December 9th. ValuEngine upgraded Belden from a strong sell rating to a sell rating in a research note on Tuesday, February 12th. Longbow Research downgraded shares of Belden from a buy rating to a neutral rating and set a $63.27 price objective for the company. in a report on Thursday, February 21st. Zacks Investment Research raised shares of Belden from a sell rating to a hold rating in a report on Tuesday, February 12th. Finally, SunTrust Banks increased their price target on shares of Belden to $70.00 and gave the company a hold rating in a report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $72.15.
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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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