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Investment analysts at BGC Financial boosted their target price on shares of BGC Partners (NASDAQ:BGCP) from $7.00 to $8.00 in a note issued to investors on Friday, American Banking and Market News reports. BGC Financial’s target price suggests a potential upside of 11.11% from the stock’s previous close.

BGC Partners (NASDAQ:BGCP) traded down 0.14% during mid-day trading on Friday, hitting $7.19. The stock had a trading volume of 284,715 shares. BGC Partners has a 1-year low of $5.10 and a 1-year high of $7.30. The stock has a 50-day moving average of $6.88 and a 200-day moving average of $6.34. The company has a market cap of $1.586 billion and a P/E ratio of 20.81.

BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.02. The company had revenue of $445.90 million for the quarter, compared to the consensus estimate of $436.00 million. During the same quarter last year, the company posted $0.12 earnings per share. BGC Partners’s revenue was down .9% compared to the same quarter last year. Analysts expect that BGC Partners will post $0.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend is Wednesday, May 14th.

BGC Partners, Inc (NASDAQ:BGCP) is a global brokerage company primarily servicing the wholesale financial markets, specializing in the brokering of a range of products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, property derivatives, commodities, futures and structured products.

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