BGC Partners Given New $8.00 Price Target at BGC Financial (BGCP)
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.
Stay on top of analysts' upgrades and downgrades with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' ratings changes. Register Now.