BGC Partners, Inc. (NASDAQ:BGCP) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a 1 year consensus price objective of $17.00 for the company and are anticipating that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also given BGC Partners an industry rank of 69 out of 255 based on the ratings given to related companies.
BGCP has been the subject of several research reports. ValuEngine lowered BGC Partners from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. BidaskClub lowered BGC Partners from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, Zacks Investment Research lowered BGC Partners from a “buy” rating to a “hold” rating in a report on Monday, October 1st.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.02. BGC Partners had a return on equity of 46.19% and a net margin of 1.53%. The business had revenue of $960.08 million during the quarter, compared to analyst estimates of $938.00 million. During the same period in the prior year, the company earned $0.24 earnings per share. Analysts anticipate that BGC Partners will post 1.38 earnings per share for the current fiscal year.
In other news, Director William J. Moran acquired 10,000 shares of BGC Partners stock in a transaction on Thursday, August 2nd. The stock was acquired at an average cost of $11.09 per share, with a total value of $110,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 32.80% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of BGCP. Northern Trust Corp lifted its position in shares of BGC Partners by 19.8% during the first quarter. Northern Trust Corp now owns 1,533,733 shares of the financial services provider’s stock worth $20,628,000 after acquiring an additional 253,201 shares in the last quarter. BlackRock Inc. lifted its position in shares of BGC Partners by 0.7% during the first quarter. BlackRock Inc. now owns 11,625,971 shares of the financial services provider’s stock worth $156,368,000 after acquiring an additional 76,881 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of BGC Partners by 283.7% during the first quarter. BNP Paribas Arbitrage SA now owns 33,678 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 24,901 shares in the last quarter. Sei Investments Co. lifted its position in shares of BGC Partners by 39.3% during the first quarter. Sei Investments Co. now owns 36,078 shares of the financial services provider’s stock worth $485,000 after acquiring an additional 10,170 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of BGC Partners by 248.2% during the first quarter. UBS Group AG now owns 1,519,131 shares of the financial services provider’s stock worth $20,432,000 after acquiring an additional 1,082,829 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.
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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