Wall Street brokerages expect that BGC Partners, Inc. (NASDAQ:BGCP – Get Rating) will post sales of $518.40 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for BGC Partners’ earnings, with the highest sales estimate coming in at $519.00 million and the lowest estimate coming in at $517.80 million. BGC Partners posted sales of $567.58 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.7%. The business is scheduled to report its next quarterly earnings results on Thursday, May 5th.
According to Zacks, analysts expect that BGC Partners will report full year sales of $1.92 billion for the current year, with estimates ranging from $1.89 billion to $1.95 billion. For the next financial year, analysts expect that the business will report sales of $2.02 billion, with estimates ranging from $1.97 billion to $2.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow BGC Partners.
BGC Partners (NASDAQ:BGCP – Get Rating) last issued its earnings results on Tuesday, February 15th. The financial services provider reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. BGC Partners had a net margin of 6.27% and a return on equity of 44.97%. During the same quarter last year, the business earned $0.13 earnings per share.
BGCP has been the subject of several research reports. Credit Suisse Group initiated coverage on shares of BGC Partners in a research report on Tuesday, February 15th. They set an “outperform” rating and a $7.00 price objective for the company. Zacks Investment Research upgraded shares of BGC Partners from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Monday, January 10th.
Several institutional investors and hedge funds have recently made changes to their positions in BGCP. Spire Wealth Management purchased a new stake in shares of BGC Partners in the fourth quarter valued at $28,000. Eagle Bay Advisors LLC raised its stake in shares of BGC Partners by 100.0% in the third quarter. Eagle Bay Advisors LLC now owns 6,000 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 3,000 shares during the period. Sweet Financial Partners LLC purchased a new stake in shares of BGC Partners in the fourth quarter valued at $47,000. Profund Advisors LLC purchased a new stake in shares of BGC Partners in the fourth quarter valued at $50,000. Finally, Gotham Asset Management LLC purchased a new stake in shares of BGC Partners in the fourth quarter valued at $62,000. 55.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:BGCP traded up $0.05 during midday trading on Tuesday, reaching $4.63. 2,161,873 shares of the company were exchanged, compared to its average volume of 2,186,664. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.97. The business’s fifty day moving average is $4.45 and its two-hundred day moving average is $4.85. BGC Partners has a one year low of $3.91 and a one year high of $6.51. The stock has a market cap of $1.71 billion, a PE ratio of 14.03 and a beta of 1.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 22nd. Shareholders of record on Tuesday, March 8th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, March 7th. This represents a $0.04 annualized dividend and a yield of 0.86%. BGC Partners’s dividend payout ratio (DPR) is currently 12.12%.
About BGC Partners (Get Rating)
BGC Partners, Inc engages in the provision of brokerage services to the financial markets. The firm offers integrated voice, hybrid and fully electronic brokerage in a broad range of products, including fixed income, foreign exchange, equities, insurance, energy and commodities and futures. It also provides trade execution, brokerage, clearing, trade compression, post-trade, information and other back-office services.
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