Belden (NYSE:BDC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, February 6th.
According to Zacks, “Belden Inc is engaged in the design, manufacture and retail of cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. The Company’s products find its application in the industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden Inc is based in St. Louis, Missouri. “
Other analysts also recently issued reports about the company. ValuEngine downgraded Belden from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Stifel Nicolaus raised their target price on Belden from $90.00 to $97.00 and gave the company an “in-line” rating in a research note on Wednesday, December 6th. Cross Research upgraded Belden from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. 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. Finally, TheStreet cut shares of Belden from a “b” rating to a “c+” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Belden currently has a consensus rating of “Hold” and an average target price of $91.43.
Belden (NYSE BDC) traded down $0.85 during trading on Tuesday, hitting $73.21. The stock had a trading volume of 365,640 shares, compared to its average volume of 479,571. The firm has a market capitalization of $3,105.38, a P/E ratio of 53.44 and a beta of 2.29. Belden has a 52 week low of $64.60 and a 52 week high of $87.14. The company has a quick ratio of 1.59, a current ratio of 2.02 and a debt-to-equity ratio of 1.09.
Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.62 EPS for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.15). The firm had revenue of $604.88 million during the quarter, compared to the consensus estimate of $648.92 million. Belden had a net margin of 3.90% and a return on equity of 18.20%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 earnings per share. sell-side analysts predict that Belden will post 6.09 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BDC. Teachers Advisors LLC grew its position in shares of Belden by 7.4% during the 2nd quarter. Teachers Advisors LLC now owns 77,342 shares of the industrial products company’s stock valued at $5,834,000 after purchasing an additional 5,325 shares in the last quarter. New York State Common Retirement Fund grew its position in Belden by 1.5% in the second quarter. New York State Common Retirement Fund now owns 109,082 shares of the industrial products company’s stock worth $8,228,000 after acquiring an additional 1,630 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Belden in the second quarter worth $348,000. Vanguard Group Inc. grew its position in Belden by 0.4% in the second quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock worth $269,145,000 after acquiring an additional 14,086 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Belden by 2.1% in the second quarter. California Public Employees Retirement System now owns 83,700 shares of the industrial products company’s stock worth $6,313,000 after acquiring an additional 1,700 shares in the last quarter.
Belden Company Profile
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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