BidaskClub Downgrades BGC Partners, Inc. (NASDAQ:BGCP) to Hold
BidaskClub cut shares of BGC Partners, Inc. (NASDAQ:BGCP) from a buy rating to a hold rating in a research report released on Friday.
Separately, Zacks Investment Research upgraded shares of BGC Partners from a hold rating to a buy rating and set a $14.00 price objective for the company in a research note on Friday, June 30th.
Shares of BGC Partners (NASDAQ BGCP) opened at 12.61 on Friday. The company has a market capitalization of $3.61 billion, a P/E ratio of 31.76 and a beta of 1.29. The firm has a 50-day moving average of $12.63 and a 200-day moving average of $11.67. BGC Partners has a 12 month low of $8.36 and a 12 month high of $13.44.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $737.80 million during the quarter, compared to analyst estimates of $716 million. BGC Partners had a net margin of 4.23% and a return on equity of 35.29%. BGC Partners’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. On average, equities analysts predict that BGC Partners will post $0.99 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.72 dividend on an annualized basis and a yield of 5.71%. BGC Partners’s dividend payout ratio is currently 180.00%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in BGC Partners by 2.8% in the first quarter. Creative Planning now owns 15,560 shares of the financial services provider’s stock worth $177,000 after buying an additional 421 shares in the last quarter. Schnieders Capital Management LLC raised its stake in BGC Partners by 2.5% in the second quarter. Schnieders Capital Management LLC now owns 20,600 shares of the financial services provider’s stock worth $260,000 after buying an additional 500 shares in the last quarter. Icon Advisers Inc. Co. raised its stake in BGC Partners by 0.5% in the first quarter. Icon Advisers Inc. Co. now owns 154,100 shares of the financial services provider’s stock worth $1,751,000 after buying an additional 800 shares in the last quarter. Regent Investment Management LLC raised its stake in BGC Partners by 8.3% in the first quarter. Regent Investment Management LLC now owns 13,000 shares of the financial services provider’s stock worth $148,000 after buying an additional 1,000 shares in the last quarter. Finally, Wealthsource Partners LLC raised its stake in BGC Partners by 6.6% in the first quarter. Wealthsource Partners LLC now owns 20,499 shares of the financial services provider’s stock worth $233,000 after buying an additional 1,275 shares in the last quarter. Institutional investors and hedge funds own 45.89% of the company’s stock.
BGC Partners Company Profile
BGC Partners, Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.
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