Zacks Investment Research Downgrades Belden (BDC) to Sell

Zacks Investment Research downgraded shares of Belden (NYSE:BDC) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Belden Inc is engaged in the design, manufacture and retail of cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. The Company’s products find its application in the industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden Inc is based in St. Louis, Missouri. “

BDC has been the subject of a number of other reports. TheStreet lowered shares of Belden from a b- rating to a c+ rating in a research note on Friday, March 29th. ValuEngine upgraded shares of 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 target on the stock. in a report on Thursday, February 21st. SunTrust Banks raised their price target on shares of Belden to $70.00 and gave the company a hold rating in a report on Thursday, February 21st. Finally, Canaccord Genuity raised their price target on shares of Belden from $60.00 to $70.00 and gave the company a buy rating in a report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $69.18.

NYSE:BDC opened at $55.00 on Tuesday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 9.08 and a beta of 2.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.31. Belden has a fifty-two week low of $37.79 and a fifty-two week high of $76.39.

Belden (NYSE:BDC) last released its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $655.39 million during the quarter, compared to analyst estimates of $661.84 million. Belden had a net margin of 6.22% and a return on equity of 21.37%. Belden’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 EPS. Equities research analysts expect that Belden will post 5.88 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden’s payout ratio is presently 3.30%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Belden by 12.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock worth $91,000 after buying an additional 244 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Belden by 2.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,869 shares of the industrial products company’s stock worth $579,000 after buying an additional 278 shares during the last quarter. Neuburgh Advisers LLC boosted its holdings in shares of Belden by 12.1% in the fourth quarter. Neuburgh Advisers LLC now owns 3,840 shares of the industrial products company’s stock worth $160,000 after buying an additional 416 shares during the last quarter. Howe & Rusling Inc. boosted its holdings in shares of Belden by 28.9% in the fourth quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after buying an additional 646 shares during the last quarter. Finally, Texas Permanent School Fund boosted its holdings in shares of Belden by 3.1% in the fourth quarter. Texas Permanent School Fund now owns 26,375 shares of the industrial products company’s stock worth $1,102,000 after buying an additional 805 shares during the last quarter.

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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