General Cable Corp. (BGC) Trading Up 6.1%
Shares of General Cable Corp. (NYSE:BGC) were up 6.1% during trading on Friday . The company traded as high as $13.12 and last traded at $13.11, with a volume of 152,593 shares changing hands. The stock had previously closed at $12.36.
Separately, Zacks Investment Research cut General Cable Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday.
The company’s 50 day moving average price is $13.56 and its 200-day moving average price is $12.13. The firm’s market capitalization is $642.62 million.
General Cable Corp. (NYSE:BGC) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The business earned $974 million during the quarter, compared to analysts’ expectations of $851.33 million. The company’s revenue was down 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.78) EPS. On average, equities analysts anticipate that General Cable Corp. will post $0.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 3rd were issued a $0.18 dividend. The ex-dividend date was Wednesday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.52%.
Several hedge funds have recently made changes to their positions in BGC. Matarin Capital Management LLC purchased a new stake in shares of General Cable Corp. during the fourth quarter worth about $5,885,000. Ecofin Ltd. boosted its stake in shares of General Cable Corp. by 54.9% in the fourth quarter. Ecofin Ltd. now owns 930,039 shares of the company’s stock worth $12,490,000 after buying an additional 329,624 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in shares of General Cable Corp. during the fourth quarter worth about $2,642,000. PNC Financial Services Group Inc. boosted its stake in shares of General Cable Corp. by 482.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 122,380 shares of the company’s stock worth $1,643,000 after buying an additional 101,358 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in shares of General Cable Corp. by 12.7% in the fourth quarter. Nationwide Fund Advisors now owns 302,389 shares of the company’s stock worth $4,061,000 after buying an additional 34,174 shares during the period.
General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The Company operates through four segments: North America, Europe, Latin America, and Africa/Asia Pacific.
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