General Cable Corp. (BGC) Shares Up 2.8%
Shares of General Cable Corp. (NYSE:BGC) shot up 2.8% during mid-day trading on Thursday . The company traded as high as $14.78 and last traded at $14.70, with a volume of 199,351 shares traded. The stock had previously closed at $14.30.
Separately, Zacks Investment Research lowered General Cable Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th.
The stock’s market cap is $732.74 million. The firm’s 50-day moving average is $13.60 and its 200-day moving average is $12.17.
General Cable Corp. (NYSE:BGC) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.17. The firm earned $974 million during the quarter, compared to the consensus estimate of $851.33 million. The firm’s quarterly revenue was down 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.78) EPS. On average, equities research analysts anticipate that General Cable Corp. will post $0.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 3rd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Wednesday, June 1st.
Several large investors recently made changes to their positions in the company. New York State Common Retirement Fund raised its stake in shares of General Cable Corp. by 4.7% in the fourth quarter. New York State Common Retirement Fund now owns 93,654 shares of the company’s stock worth $1,258,000 after buying an additional 4,238 shares during the period. PNC Financial Services Group Inc. raised 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. South Dakota Investment Council raised its stake in shares of General Cable Corp. by 22.3% in the fourth quarter. South Dakota Investment Council now owns 138,513 shares of the company’s stock worth $1,860,000 after buying an additional 25,300 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of General Cable Corp. during the fourth quarter worth about $2,642,000. Finally, Nationwide Fund Advisors raised 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.