Belden (BDC) Downgraded by TheStreet to “C+”

TheStreet downgraded shares of Belden (NYSE:BDC) from a b- rating to a c+ rating in a research note released on Friday morning, TheStreetRatingsTable reports.

Several other research firms have also recently weighed in on BDC. Seaport Global Securities reissued a buy rating on shares of Belden in a report on Friday, February 15th. ValuEngine cut shares of Belden from a sell rating to a strong sell rating in a report on Wednesday, March 27th. Zacks Investment Research raised shares of Belden from a sell rating to a hold rating in a report on Tuesday, March 5th. Goldman Sachs Group cut shares of Belden from a buy rating to a neutral rating and set a $55.00 price target on the stock. in a report on Sunday, December 2nd. Finally, Longbow Research upgraded shares of Belden from a neutral rating to a buy rating and set a $41.92 target price on the stock in a research report on Thursday, January 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Belden presently has a consensus rating of Hold and a consensus price target of $69.18.

Belden stock opened at $54.70 on Friday. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 9.03 and a beta of 2.59. The company has a current ratio of 1.76, a quick ratio of 1.31 and a debt-to-equity ratio of 1.05. Belden has a twelve month low of $37.79 and a twelve month high of $76.39.

Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, February 20th. The industrial products company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The firm had revenue of $655.39 million for the quarter, compared to analysts’ expectations of $661.84 million. Belden had a net margin of 6.22% and a return on equity of 21.37%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS. As a group, equities analysts forecast that Belden will post 5.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. Belden’s payout ratio is presently 3.30%.

Several large investors have recently made changes to their positions in BDC. Millennium Management LLC acquired a new position in shares of Belden during the 4th quarter worth approximately $15,931,000. American Century Companies Inc. grew its position in shares of Belden by 37.6% during the 4th quarter. American Century Companies Inc. now owns 650,706 shares of the industrial products company’s stock worth $27,180,000 after purchasing an additional 177,716 shares in the last quarter. LSV Asset Management acquired a new position in shares of Belden during the 4th quarter worth approximately $7,274,000. Lord Abbett & CO. LLC grew its position in shares of Belden by 25.7% during the 4th quarter. Lord Abbett & CO. LLC now owns 742,277 shares of the industrial products company’s stock worth $31,005,000 after purchasing an additional 151,929 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Belden by 22.8% during the 3rd quarter. Macquarie Group Ltd. now owns 811,496 shares of the industrial products company’s stock worth $57,949,000 after purchasing an additional 150,937 shares in the last quarter.

About Belden

Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.

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Analyst Recommendations for Belden (NYSE:BDC)

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