Belden Inc (BDC) Issues FY17 Earnings Guidance

Belden Inc (BDC) Issues FY17 Earnings Guidance

Belden Inc (NYSE:BDC) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $4.95-5.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.19. The company issued revenue guidance of $2.355-2.405 billion, compared to the consensus revenue estimate of $2.43 billion.

A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Belden from a strong sell rating to a hold rating in a report on Tuesday, December 6th. Canaccord Genuity reissued a buy rating and set a $83.00 target price on shares of Belden in a report on Tuesday, December 6th. Deutsche Bank AG initiated coverage on shares of Belden in a report on Thursday, December 15th. They set a buy rating and a $85.00 target price on the stock. Finally, Stifel Nicolaus lowered their price target on shares of Belden from $86.00 to $80.00 and set a buy rating for the company in a research report on Tuesday, December 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $82.80.

Belden Inc (NYSE:BDC) opened at 77.43 on Monday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 24.04 and a beta of 2.30. Belden Inc has a 12 month low of $36.51 and a 12 month high of $81.33. The company has a 50-day moving average of $77.21 and a 200-day moving average of $71.67.

Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The business had revenue of $601.10 million for the quarter, compared to the consensus estimate of $606.66 million. Belden had a net margin of 6.14% and a return on equity of 23.44%. Belden’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. Analysts predict that Belden Inc will post $5.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Friday, December 16th were paid a $0.05 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.26%. Belden’s payout ratio is 6.21%.

In related news, EVP Christoph Gusenleitner sold 3,720 shares of the firm’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $78.24, for a total value of $291,052.80. Following the completion of the transaction, the executive vice president now directly owns 4,548 shares of the company’s stock, valued at $355,835.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dhrupad Trivedi sold 523 shares of the firm’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $80.00, for a total value of $41,840.00. Following the completion of the transaction, the insider now directly owns 4,766 shares of the company’s stock, valued at $381,280. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,531 shares of company stock worth $6,722,354. 1.37% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC boosted its position in shares of Belden by 0.4% in the second quarter. Barclays PLC now owns 11,035 shares of the company’s stock valued at $667,000 after buying an additional 49 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Belden by 11.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,584 shares of the company’s stock valued at $109,000 after buying an additional 163 shares during the period. Comerica Bank boosted its position in shares of Belden by 0.4% in the second quarter. Comerica Bank now owns 47,910 shares of the company’s stock valued at $3,470,000 after buying an additional 190 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Belden by 2.7% in the second quarter. Ameritas Investment Partners Inc. now owns 9,943 shares of the company’s stock valued at $600,000 after buying an additional 257 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Belden by 0.4% in the second quarter. Rhumbline Advisers now owns 79,639 shares of the company’s stock valued at $4,808,000 after buying an additional 334 shares during the period.

Belden Company Profile

Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.

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