Bel Fuse Inc. (NASDAQ:BELFB) Expected to Post Q2 2024 Earnings of $0.79 Per Share

Bel Fuse Inc. (NASDAQ:BELFB) – Investment analysts at Litchfield Hills Research cut their Q2 2024 earnings per share estimates for shares of Bel Fuse in a report issued on Tuesday, April 30th. Litchfield Hills Research analyst T. O’neill now forecasts that the electronics maker will post earnings of $0.79 per share for the quarter, down from their prior estimate of $1.07. The consensus estimate for Bel Fuse’s current full-year earnings is $4.39 per share. Litchfield Hills Research also issued estimates for Bel Fuse’s Q3 2024 earnings at $1.15 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $4.13 EPS, Q1 2025 earnings at $0.91 EPS, Q4 2025 earnings at $1.33 EPS and FY2025 earnings at $4.94 EPS.

Bel Fuse (NASDAQ:BELFB) last announced its quarterly earnings data on Wednesday, February 21st. The electronics maker reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). The business had revenue of $140.01 million for the quarter, compared to analyst estimates of $152.86 million. Bel Fuse had a return on equity of 23.58% and a net margin of 12.62%.

A number of other equities analysts also recently commented on BELFB. Needham & Company LLC cut their target price on shares of Bel Fuse from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. StockNews.com downgraded Bel Fuse from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Northland Securities cut Bel Fuse from an “outperform” rating to a “market perform” rating and set a $63.00 price objective on the stock. in a research note on Thursday.

Bel Fuse Stock Down 0.9 %

Shares of NASDAQ:BELFB opened at $58.04 on Thursday. The company has a quick ratio of 2.70, a current ratio of 4.21 and a debt-to-equity ratio of 0.17. Bel Fuse has a 52-week low of $39.13 and a 52-week high of $74.75. The stock’s fifty day simple moving average is $57.67 and its 200-day simple moving average is $59.00. The company has a market capitalization of $740.59 million, a P/E ratio of 9.77 and a beta of 1.46.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds and other institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System lifted its holdings in Bel Fuse by 373.5% in the first quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 747 shares during the period. Toronto Dominion Bank bought a new stake in Bel Fuse in the third quarter worth about $48,000. Covestor Ltd raised its position in Bel Fuse by 26.5% in the third quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock worth $48,000 after acquiring an additional 212 shares in the last quarter. AJOVista LLC bought a new stake in Bel Fuse in the fourth quarter worth about $73,000. Finally, National Bank of Canada FI bought a new stake in Bel Fuse in the fourth quarter worth about $78,000. Institutional investors and hedge funds own 58.39% of the company’s stock.

Insider Buying and Selling at Bel Fuse

In other news, Director Vincent Vellucci sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $56.70, for a total transaction of $56,700.00. Following the completion of the transaction, the director now owns 7,392 shares of the company’s stock, valued at $419,126.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.37% of the stock is owned by insiders.

Bel Fuse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.28 annualized dividend and a yield of 0.48%. Bel Fuse’s payout ratio is 4.71%.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.