Belden (BDC) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $1.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.95. The company posted revenue of $241.49 million in the period, compared to analysts expectations of $541.12 million. The company’s revenue was down -55.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.
Many Wall Street Analysts have commented on Belden. Stifel Resumed Belden on Apr 4, 2016 to “Buy”, Price Target of the shares are set at $72.Company shares were Reiterated by Canaccord Genuity on Mar 31, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .
Belden opened for trading at $63.21 and hit $64.01 on the upside on Monday, eventually ending the session at $63.95, with a gain of 1.28% or 0.81 points. The heightened volatility saw the trading volume jump to 2,27,688 shares. Company has a market cap of $2,685 M.
In a different news, on Mar 22, 2016, Ross Rosenberg (SVP, Bus. Dev. & Strategy) sold 713 shares at $59.25 per share price. According to the SEC, on Feb 26, 2016, Glenn Kalnasy (director) sold 3,500 shares at $53.13 per share price. On Aug 3, 2015, Doug Zink (VP and CAO) purchased 510 shares at $59.09 per share price, according to the Form-4 filing with the securities and exchange commission.
Belden Inc. is a signal transmission solutions provider. The Companys portfolio of signal transmission solutions provides industry secure and reliable transmission of data sound and video for mission critical applications. The Company operates in four segments: Broadcast Solutions which provides production distribution and connectivity systems for television broadcast cable satellite and IPTV industries; Enterprise Connectivity Solutions which provides network infrastructure solutions for enterprise customers; Industrial Connectivity Solutions which provides infrastructure components and connectivity systems for a range of industrial automation applications and Industrial IT Solutions which provides mission-critical networking systems. Its brands include Belden Alpha Wire Mohawk West Penn Wire Hirschmann SignalTight GarrettCom Poliron Tofino PPC Grass Valley ProSoft Technology and Tripwire. It sells products to distributors end-users installers and OEMs.