BGC Partners, Inc. (BGCP) Receives $16.00 Average PT from Analysts

Shares of BGC Partners, Inc. (NASDAQ:BGCP) have been given an average rating of “Hold” by the six brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $16.00.

A number of brokerages have issued reports on BGCP. ValuEngine cut BGC Partners from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. BidaskClub cut BGC Partners from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Zacks Investment Research cut BGC Partners from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Raymond James cut their price objective on BGC Partners from $17.00 to $16.00 and set a “strong-buy” rating for the company in a report on Friday, October 26th. Finally, TheStreet cut BGC Partners from a “b” rating to a “c+” rating in a report on Wednesday, December 19th.

Shares of BGC Partners stock traded down $0.05 during midday trading on Wednesday, hitting $6.06. The company had a trading volume of 81,998 shares, compared to its average volume of 3,514,262. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 5.05 and a beta of 1.22. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.70. BGC Partners has a 1-year low of $4.93 and a 1-year high of $14.96.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company had revenue of $977.25 million during the quarter, compared to analyst estimates of $969.00 million. BGC Partners had a return on equity of 43.44% and a net margin of 2.49%. As a group, research analysts forecast that BGC Partners will post 1.41 earnings per share for the current fiscal year.

In other BGC Partners news, insider Sean Galvin purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average cost of $11.08 per share, with a total value of $221,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 32.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BGCP. Sei Investments Co. raised its holdings in BGC Partners by 91.6% during the 2nd quarter. Sei Investments Co. now owns 69,138 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 33,060 shares during the last quarter. Rhumbline Advisers raised its holdings in BGC Partners by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 235,985 shares of the financial services provider’s stock worth $2,671,000 after purchasing an additional 16,176 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in BGC Partners by 14.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,297,018 shares of the financial services provider’s stock worth $14,683,000 after purchasing an additional 165,665 shares during the last quarter. BlackRock Inc. raised its holdings in BGC Partners by 6.4% during the 2nd quarter. BlackRock Inc. now owns 12,366,022 shares of the financial services provider’s stock worth $139,983,000 after purchasing an additional 740,051 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in BGC Partners by 19.5% during the 2nd quarter. Legal & General Group Plc now owns 135,888 shares of the financial services provider’s stock worth $1,539,000 after purchasing an additional 22,156 shares during the last quarter. 51.42% of the stock is owned by institutional investors and hedge funds.

About BGC Partners

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.

Further Reading: Analyst Ratings

Receive News & Ratings for BGC Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BGC Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit