ValuEngine downgraded shares of Belden (NYSE:BDC) from a buy rating to a hold rating in a report issued on Friday, February 2nd.
Several other equities research analysts also recently commented on BDC. Zacks Investment Research raised Belden from a hold rating to a buy rating and set a $92.00 price objective for the company in a report on Friday, November 3rd. Stifel Nicolaus upped their target price on Belden from $90.00 to $97.00 and gave the stock an in-line rating in a research note on Wednesday, December 6th. Canaccord Genuity restated a buy rating and issued a $94.00 target price on shares of Belden in a research note on Friday, December 1st. TheStreet lowered Belden from a b rating to a c+ rating in a research note on Wednesday, November 1st. Finally, Guggenheim restated a buy rating and issued a $90.00 target price on shares of Belden in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $89.50.
Shares of Belden (NYSE BDC) traded up $0.76 during trading hours on Friday, reaching $68.48. The company’s stock had a trading volume of 82,081 shares, compared to its average volume of 364,117. The company has a market cap of $2,856.02, a PE ratio of 49.43 and a beta of 2.29. Belden has a 12-month low of $64.60 and a 12-month high of $87.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.03 and a quick ratio of 1.59.
Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.15). The firm had revenue of $604.88 million for the quarter, compared to the consensus estimate of $648.92 million. Belden had a return on equity of 18.20% and a net margin of 3.90%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 earnings per share. sell-side analysts expect that Belden will post 6.09 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in BDC. Stifel Financial Corp purchased a new stake in Belden in the 2nd quarter worth approximately $286,000. Rothschild Asset Management Inc. purchased a new stake in shares of Belden during the 3rd quarter worth about $9,356,000. Legal & General Group Plc boosted its stake in shares of Belden by 13.0% during the 3rd quarter. Legal & General Group Plc now owns 41,016 shares of the industrial products company’s stock worth $3,305,000 after acquiring an additional 4,714 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Belden by 12.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 90,000 shares of the industrial products company’s stock worth $7,248,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Foundry Partners LLC boosted its stake in shares of Belden by 7.6% during the 3rd quarter. Foundry Partners LLC now owns 159,145 shares of the industrial products company’s stock worth $12,816,000 after acquiring an additional 11,206 shares in the last quarter.
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Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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