BGC Partners, Inc. (NASDAQ:BGCP) has earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus price target of $17.00 for the company and are expecting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also assigned BGC Partners an industry rank of 103 out of 255 based on the ratings given to its competitors.
Several equities research analysts have issued reports on the stock. ValuEngine raised shares of BGC Partners from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. BidaskClub lowered shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, Zacks Investment Research raised shares of BGC Partners from a “sell” rating to a “hold” rating in a report on Monday, June 25th.
In other BGC Partners news, Director William J. Moran purchased 10,000 shares of the stock in a transaction on Thursday, August 2nd. The shares were purchased at an average price of $11.09 per share, with a total value of $110,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 32.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BGCP. EJF Capital LLC grew its holdings in shares of BGC Partners by 25.5% in the 2nd quarter. EJF Capital LLC now owns 1,166,700 shares of the financial services provider’s stock worth $13,207,000 after purchasing an additional 236,700 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of BGC Partners by 46.0% in the 2nd quarter. Brookstone Capital Management now owns 43,846 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 13,815 shares during the last quarter. Nomura Holdings Inc. grew its holdings in shares of BGC Partners by 607.6% in the 2nd quarter. Nomura Holdings Inc. now owns 200,848 shares of the financial services provider’s stock worth $2,274,000 after purchasing an additional 172,462 shares during the last quarter. Vident Investment Advisory LLC grew its holdings in shares of BGC Partners by 148.6% in the 2nd quarter. Vident Investment Advisory LLC now owns 38,495 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 23,012 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of BGC Partners by 19.4% in the 1st quarter. Principal Financial Group Inc. now owns 10,797,309 shares of the financial services provider’s stock worth $145,224,000 after purchasing an additional 1,755,694 shares during the last quarter. 51.55% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:BGCP traded down $0.10 during trading hours on Monday, hitting $11.54. 1,139,300 shares of the company traded hands, compared to its average volume of 2,224,622. The stock has a market cap of $3.86 billion, a P/E ratio of 9.62 and a beta of 1.04. BGC Partners has a twelve month low of $10.39 and a twelve month high of $16.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.16 and a quick ratio of 1.14.
BGC Partners (NASDAQ:BGCP) last released its earnings results on Thursday, August 2nd. The financial services provider reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The firm had revenue of $960.08 million during the quarter, compared to analysts’ expectations of $938.00 million. BGC Partners had a net margin of 1.53% and a return on equity of 46.19%. During the same period in the prior year, the company earned $0.24 EPS. As a group, equities research analysts anticipate that BGC Partners will post 1.38 EPS for the current year.
BGC Partners Company Profile
BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.
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