Seaport Global Securities restated their buy rating on shares of Belden (NYSE:BDC) in a report released on Friday. Seaport Global Securities also issued estimates for Belden’s Q4 2018 earnings at $1.63 EPS, FY2018 earnings at $6.12 EPS, Q2 2019 earnings at $1.56 EPS, Q3 2019 earnings at $1.66 EPS and Q4 2019 earnings at $1.80 EPS.
BDC has been the subject of several other reports. Goldman Sachs Group cut shares of Belden from a buy rating to a neutral rating and set a $55.78 target price for the company. in a research note on Sunday, December 9th. Cross Research cut shares of Belden from a buy rating to a hold rating in a research note on Thursday, November 1st. ValuEngine cut shares of Belden from a sell rating to a strong sell rating in a research note on Thursday, November 1st. TheStreet cut shares of Belden from a b- rating to a c+ rating in a research note on Thursday, November 8th. Finally, Canaccord Genuity cut their target price on shares of Belden from $88.00 to $65.00 and set a buy rating for the company in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Belden currently has an average rating of Hold and an average target price of $66.39.
Get Belden alerts:NYSE:BDC opened at $56.64 on Friday. The firm has a market cap of $2.28 billion, a P/E ratio of 10.59 and a beta of 2.59. Belden has a one year low of $37.79 and a one year high of $78.81. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 1.08.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Thursday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.35%. The ex-dividend date is Wednesday, March 13th. Belden’s payout ratio is currently 3.74%.
Belden announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 29th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 13.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC bought a new stake in Belden in the 4th quarter valued at $55,000. Public Employees Retirement System of Ohio increased its holdings in Belden by 12.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock valued at $91,000 after buying an additional 244 shares during the period. Howe & Rusling Inc. increased its holdings in Belden by 28.9% in the 4th quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock valued at $120,000 after buying an additional 646 shares during the period. First Hawaiian Bank bought a new stake in Belden in the 3rd quarter valued at $159,000. Finally, Neuburgh Advisers LLC increased its holdings in Belden by 12.1% in the 4th quarter. Neuburgh Advisers LLC now owns 3,840 shares of the industrial products company’s stock valued at $160,000 after buying an additional 416 shares during the period.
About Belden
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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