Brokerages Expect Belden Inc. (BDC) Will Post Quarterly Sales of $643.82 Million

Equities analysts predict that Belden Inc. (NYSE:BDC) will report $643.82 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Belden’s earnings, with estimates ranging from $640.94 million to $646.63 million. Belden posted sales of $668.64 million during the same quarter last year, which suggests a negative year-over-year growth rate of 3.7%. The company is scheduled to announce its next earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Belden will report full year sales of $2.55 billion for the current year, with estimates ranging from $2.54 billion to $2.56 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.61 billion, with estimates ranging from $2.59 billion to $2.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Belden.

Belden (NYSE:BDC) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. Belden had a return on equity of 20.17% and a net margin of 7.15%. The company had revenue of $587.18 million for the quarter, compared to analyst estimates of $577.17 million. During the same period in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year.

BDC has been the subject of several recent analyst reports. TheStreet cut Belden from a “b-” rating to a “c+” rating in a research report on Friday, March 29th. Longbow Research cut Belden from a “buy” rating to a “neutral” rating and set a $63.27 target price for the company. in a research report on Thursday, February 21st. SunTrust Banks boosted their target price on Belden to $70.00 and gave the stock a “hold” rating in a research report on Thursday, February 21st. Seaport Global Securities restated a “buy” rating on shares of Belden in a research report on Friday, February 15th. Finally, ValuEngine upgraded Belden from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.18.

Belden stock opened at $56.90 on Friday. Belden has a 52 week low of $37.79 and a 52 week high of $76.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.97 and a quick ratio of 1.40. The stock has a market cap of $2.17 billion, a P/E ratio of 9.39 and a beta of 2.56.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Premia Global Advisors LLC purchased a new stake in Belden during the 1st quarter valued at about $35,000. NumerixS Investment Technologies Inc purchased a new stake in Belden during the 1st quarter valued at about $64,000. O Shaughnessy Asset Management LLC purchased a new stake in Belden during the 4th quarter valued at about $55,000. Public Employees Retirement System of Ohio boosted its holdings in Belden by 12.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 244 shares during the period. Finally, Howe & Rusling Inc. boosted its holdings in Belden by 28.9% during the 4th quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 646 shares during the period.

About Belden

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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Earnings History and Estimates for Belden (NYSE:BDC)

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