Belden (NYSE:BDC) Issues Q4 2024 Earnings Guidance

Belden (NYSE:BDC - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.620-1.720 for the period, compared to the consensus estimate of 1.660. The company issued revenue guidance of $645.0 million-$660.0 million, compared to the consensus revenue estimate of $647.9 million. Belden also updated its Q4 guidance to $1.62-1.72 EPS.

Belden Trading Down 3.1 %

Shares of BDC traded down $3.66 on Thursday, hitting $114.03. 500,001 shares of the stock traded hands, compared to its average volume of 272,075. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.65 billion, a P/E ratio of 24.26 and a beta of 1.07. The stock's 50 day moving average is $112.04 and its two-hundred day moving average is $99.75. Belden has a 1 year low of $60.54 and a 1 year high of $123.03.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.14. The company had revenue of $604.34 million for the quarter, compared to the consensus estimate of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. Belden's revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.91 earnings per share. As a group, sell-side analysts predict that Belden will post 6.04 earnings per share for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend was Thursday, September 12th. Belden's dividend payout ratio is currently 4.26%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial increased their price target on shares of Belden from $123.00 to $124.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Benchmark increased their price target on shares of Belden from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, Vertical Research started coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a "buy" rating and a $110.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden currently has an average rating of "Buy" and an average price target of $112.00.

Insider Activity

In other news, Director Nancy E. Calderon sold 2,500 shares of the firm's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the transaction, the director now owns 6,954 shares of the company's stock, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the sale, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the sale, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,318 shares of company stock valued at $1,020,715. Company insiders own 1.59% of the company's stock.

About Belden

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.