Belden Coverage Initiated at Canaccord Genuity (BDC)

Equities research analysts at Canaccord Genuity initiated coverage on shares of Belden (NYSE: BDC) in a research note issued to investors on Thursday, reports. The firm set a “buy” rating on the stock.

The analysts wrote, “Belden is capitalizing on the advancement of digital networking technology, especially within energy and industrial end markets. Coupled with its core connectivity business, we find the company’s three-year ROIC goal of 15-17% (from ~13%) to be attractive and achievable.”

Belden (NYSE: BDC) opened at 51.36 on Thursday. Belden has a 1-year low of $29.65 and a 1-year high of $53.24. The stock’s 50-day moving average is currently $50.81. The company has a market cap of $2.286 billion and a price-to-earnings ratio of 12.14.

Belden (NYSE: BDC) last issued its quarterly earnings data on Thursday, February 7th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.66 by $0.12. The company had revenue of $477.70 million for the quarter, compared to the consensus estimate of $476.26 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Belden has set its Q1 guidance at $0.76-0.81 EPS and its FY13 guidance at $3.44-3.69 EPS. On average, analysts predict that Belden will post $3.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 2nd. Investors of record on Monday, March 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, March 14th.

Belden Inc. (NYSE: BDC) designs, manufactures, and markets cable, connectivity, and networking products in markets, including industrial automation, enterprise, transportation, infrastructure, and consumer electronics.

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