General Cable Corp. (BGC) Trading Up 6%
General Cable Corp. (NYSE:BGC) shares were up 6% during trading on Friday . The company traded as high as $14.99 and last traded at $14.52, with a volume of 387,859 shares trading hands. The stock had previously closed at $13.70.
Separately, Zacks Investment Research upgraded General Cable Corp. from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, July 19th.
The stock’s 50-day moving average price is $13.86 and its 200-day moving average price is $12.43. The firm’s market cap is $726.83 million.
General Cable Corp. (NYSE:BGC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. The business earned $990 million during the quarter, compared to analysts’ expectations of $991.77 million. During the same period in the previous year, the business earned $0.36 EPS. General Cable Corp.’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, equities analysts forecast that General Cable Corp. will post $1.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 4.88%.
A hedge fund recently raised its stake in General Cable Corp. stock. New York State Common Retirement Fund boosted its stake in General Cable Corp. (NYSE:BGC) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,654 shares of the company’s stock after buying an additional 4,238 shares during the period. New York State Common Retirement Fund owned approximately 0.19% of General Cable Corp. worth $1,258,000 as of its most recent filing with the SEC.
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.