Belden Inc. (NYSE: BDC) is a international leader in high quality, end-to-end signal transmission solutions for mission-critical applications. On Tuesday, the company reported fiscal fourth quarter and full year 2015 results for the period ended December 31, 2015. Shares of Belden jumped up 18.38% to $43.98 in Tuesday morning trading.
According to the fourth quarter financial result, total revenue of Belden decreased 2% to around $597 million compared with the same quarter last year. Net income jumped up 213% to approximately $50 million from almost $16 million in the same quarter last year. Moreover, the company delivered record earnings per share of $4.98, rose 17.7% over last year’s $4.23.
“As we shared with you in December, we expect industrial market softness will be offset by strength in our Broadband, Enterprise, and Network Security markets. As we enter the new year, I’m encouraged by our team’s ability to outperform in a variety of market situations,” said Mr. Stroup.
According to the Company’s outlook for the first quarter 2016, total revenues would range between $530 to $550 million and earnings per share range between $0.90 to $1.00. For the full year of 2016, Belden estimate total revenues will range between $2.295 to $2.345 billion, and the earnings per share continues to be around $5.10 to $5.40.
Many financial analysts have post their opinion on Belden. Zacks Investment Research increased suggestion from sell to hold in a report on Monday, January 11th. Canaccord Genuity restate a buy rating and suggested a $73.50 price on stocks of Belden in a report on Tuesday, December 8th. One investment analyst has suggested sell the stock, one has suggested hold the stock and three have suggested buy the stock. Shares of Belden presently has a consensus rating of Hold and an average target price of $84.38.