FY2024 EPS Estimates for Bel Fuse Reduced by Northland Capmk

Bel Fuse Inc. (NASDAQ:BELFB - Free Report) - Research analysts at Northland Capmk reduced their FY2024 earnings estimates for Bel Fuse in a research note issued to investors on Monday, October 28th. Northland Capmk analyst B. Brooks now forecasts that the electronics maker will post earnings per share of $3.99 for the year, down from their prior forecast of $4.72. Northland Capmk has a "Strong-Buy" rating on the stock. The consensus estimate for Bel Fuse's current full-year earnings is $4.52 per share.

A number of other equities research analysts also recently issued reports on the company. Northland Securities increased their price objective on Bel Fuse from $80.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Needham & Company LLC lifted their price target on Bel Fuse from $68.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Finally, StockNews.com raised Bel Fuse from a "buy" rating to a "strong-buy" rating in a report on Friday, October 25th.

Bel Fuse Price Performance

BELFB stock traded down $1.48 during mid-day trading on Thursday, reaching $75.42. 146,669 shares of the company traded hands, compared to its average volume of 93,061. The company has a fifty day moving average price of $74.76 and a 200-day moving average price of $68.25. Bel Fuse has a 52-week low of $45.74 and a 52-week high of $85.91. The company has a market capitalization of $946.37 million, a P/E ratio of 17.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.19 and a quick ratio of 2.76.

Bel Fuse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Wednesday, January 15th. Bel Fuse's dividend payout ratio is 6.42%.

Hedge Funds Weigh In On Bel Fuse

A number of hedge funds have recently modified their holdings of the company. Beach Investment Counsel Inc. PA bought a new stake in Bel Fuse in the second quarter valued at $25,000. nVerses Capital LLC purchased a new position in shares of Bel Fuse during the third quarter valued at about $39,000. Comerica Bank boosted its position in Bel Fuse by 223.7% during the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker's stock valued at $45,000 after acquiring an additional 510 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Bel Fuse by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 16,766 shares of the electronics maker's stock worth $1,094,000 after acquiring an additional 787 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Bel Fuse by 10.5% in the 2nd quarter. Principal Financial Group Inc. now owns 8,631 shares of the electronics maker's stock worth $563,000 after acquiring an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 58.39% of the company's stock.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.