According to Zacks, “BGC PARTNERS, INC. is a leading global full-service inter-dealer broker, specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to some of the world’s largest and most credit worthy banks, broker-dealers, investment banks and investment firms for a broad range of global financial products, including fixed income securities, foreign exchange, equity derivatives, credit derivatives, futures, structured products and other instruments. Through its eSpeed and BGCantor Market Data brands, BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto. “
Separately, BidaskClub raised shares of BGC Partners from a hold rating to a buy rating in a research report on Saturday, July 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. BGC Partners currently has a consensus rating of Buy and an average price target of $11.00.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. The business had revenue of $551.20 million for the quarter, compared to analysts’ expectations of $546.65 million. During the same period last year, the business earned $0.30 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Research analysts expect that BGC Partners will post 0.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 13th. This represents a $0.56 dividend on an annualized basis and a yield of 10.87%. BGC Partners’s dividend payout ratio (DPR) is currently 77.78%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in BGC Partners by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 26,563,720 shares of the financial services provider’s stock valued at $138,928,000 after acquiring an additional 944,600 shares during the period. Principal Financial Group Inc. increased its stake in BGC Partners by 8.3% during the 1st quarter. Principal Financial Group Inc. now owns 18,685,542 shares of the financial services provider’s stock valued at $99,223,000 after purchasing an additional 1,436,046 shares in the last quarter. Cardinal Capital Management LLC CT increased its stake in BGC Partners by 5.2% during the 2nd quarter. Cardinal Capital Management LLC CT now owns 13,937,438 shares of the financial services provider’s stock valued at $72,893,000 after purchasing an additional 683,440 shares in the last quarter. Raymond James & Associates increased its stake in BGC Partners by 12.2% during the 1st quarter. Raymond James & Associates now owns 11,229,356 shares of the financial services provider’s stock valued at $59,628,000 after purchasing an additional 1,224,232 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in BGC Partners by 9.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,008,263 shares of the financial services provider’s stock valued at $15,733,000 after purchasing an additional 260,499 shares in the last quarter. 52.27% of the stock is owned by institutional investors.
About BGC Partners
BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.
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