Belden (BDC) Cut to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Belden (NYSE:BDC) from a sell rating to a strong sell rating in a report issued on Thursday morning, ValuEngine reports.

A number of other equities analysts have also recently issued reports on BDC. Zacks Investment Research cut shares of Belden from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Canaccord Genuity increased their price objective on shares of Belden from $60.00 to $70.00 and gave the company a buy rating in a research note on Thursday, February 21st. TheStreet upgraded shares of Belden from a c+ rating to a b- rating in a research note on Thursday, February 28th. Seaport Global Securities restated a buy rating on shares of Belden in a research note on Friday, February 15th. Finally, SunTrust Banks increased their price objective on shares of Belden to $70.00 and gave the company a hold rating in a research note on Thursday, February 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $69.18.

Shares of Belden stock opened at $55.00 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. Belden has a fifty-two week low of $37.79 and a fifty-two week high of $76.39. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 9.08 and a beta of 2.58.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio (DPR) is currently 3.30%.

Institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC acquired a new stake in shares of Belden during the 4th quarter worth about $55,000. Public Employees Retirement System of Ohio increased its position in shares of Belden by 12.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 244 shares in the last quarter. Howe & Rusling Inc. increased its position in shares of Belden by 28.9% during the 4th quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 646 shares in the last quarter. Neuburgh Advisers LLC increased its position in shares of Belden by 12.1% during the 4th quarter. Neuburgh Advisers LLC now owns 3,840 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 416 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of Belden during the 4th quarter worth about $200,000.

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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