General Cable Corp. (BGC) Trading Down 1.5%
Shares of General Cable Corp. (NYSE:BGC) dropped 1.5% during mid-day trading on Monday . The stock traded as low as $14.57 and last traded at $14.66, with a volume of 123,547 shares traded. The stock had previously closed at $14.88.
Separately, Zacks Investment Research cut shares of General Cable Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th.
The firm has a 50 day moving average price of $13.60 and a 200-day moving average price of $12.14. The stock’s market cap is $729.29 million.
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 analysts’ consensus estimates of $0.02 by $0.17. During the same quarter in the prior year, the business posted ($0.78) EPS. The company had revenue of $974 million for the quarter, compared to analysts’ expectations of $851.33 million. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. Equities research analysts predict that General Cable Corp. will post $0.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Investors 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 yield of 4.86%. The ex-dividend date of this dividend was Wednesday, June 1st.
Other hedge funds recently bought and sold shares of the company. New York State Common Retirement Fund boosted its stake in 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 in the last quarter. PNC Financial Services Group Inc. boosted its stake in 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 valued at $1,643,000 after buying an additional 101,358 shares during the period. South Dakota Investment Council boosted its stake in General Cable Corp. by 22.3% in the fourth quarter. South Dakota Investment Council now owns 138,513 shares of the company’s stock valued at $1,860,000 after buying an additional 25,300 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in General Cable Corp. during the fourth quarter valued at approximately $2,642,000. Finally, Nationwide Fund Advisors boosted its stake in General Cable Corp. by 12.7% in the fourth quarter. Nationwide Fund Advisors now owns 302,389 shares of the company’s stock valued at $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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