Economia

Analysts Set Belden Inc (NYSE:BDC) PT at $83.78

Analysts Set Belden Inc (NYSE:BDC) PT at $83.78

Accern also gave news stories about the industrial products company an impact score of 46.2196672850511 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company's share price in the near future. HM Capital Management LLC's holdings in Belden were worth $300,000 at the end of the most recent quarter.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Belden by 22,743.7% in the first quarter. Vanguard Group Inc. now owns 3,554,054 shares of the industrial products company's stock worth $245,905,000 after buying an additional 189,152 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its stake in shares of Belden by 799.6% in the first quarter. Foundry Partners LLC now owns 136,531 shares of the industrial products company's stock valued at $9,447,000 after buying an additional 77,136 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Belden by 456.0% in the first quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company's stock valued at $155,000 after buying an additional 841 shares during the last quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company's stock worth $262,000 after buying an additional 140 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Belden by 17.7% in the first quarter. Greenwood Capital Associates LLC now owns 2,975 shares of the industrial products company's stock worth $206,000 after buying an additional 149 shares during the last quarter.

Belden Inc (BDC) traded up 1.33% during trading on Friday, hitting $71.45. The stock had a trading volume of 383,609 shares. The firm's 50 day moving average is $75.24 and its 200-day moving average is $72.56. The firm has a market capitalization of $2.99 billion, a P/E ratio of 30.72 and a beta of 2.28. Belden Inc has a 52 week low of $60.06 and a 52 week high of $81.33.

Belden (NYSE:BDC) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.08. The firm had revenue of $610.63 million for the quarter, compared to analyst estimates of $608.16 million. The business's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share.

According to Zacks, analysts expect that Belden will report full-year sales of $626.27 million for the current year.

Belden announced that its board has approved a share buyback plan on Thursday, May 25th that permits the company to buyback $200.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 6.8% of its stock through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: "Belden (BDC) Getting Somewhat Positive Press Coverage, Report Finds" was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece on another website, it was stolen and reposted in violation of United States & worldwide trademark and copyright law.

Media headlines about Belden (NYSE:BDC) have trended somewhat positive recently, Accern reports. CL King initiated coverage on shares of Belden in a research report on Wednesday, June 21st. Adams Diversified Equity Fund Inc. raised its position in shares of Belden by 23.3% in the first quarter. BidaskClub lowered Belden from a "hold" rating to a "sell" rating in a research note on Tuesday, August 1st. They issued a buy rating and a $93.00 target price for the company. ValuEngine lowered Belden from a "buy" rating to a "hold" rating in a research note on Thursday, July 20th. Canaccord Genuity reissued a "buy" rating and issued a $83.00 price objective on shares of Belden in a report on Friday, August 4th. Zacks Investment Research raised shares of Belden from a "hold" rating to a "strong-buy" rating and set a $86.00 price objective for the company in a report on Tuesday, July 11th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company now has a consensus rating of "Buy" and an average target price of $84.56.

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).