Belden (BDC) Lowered to “Hold” at ValuEngine

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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About Belden

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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