General Cable Corp. (BGC) Sees Strong Trading Volume
General Cable Corp. (NYSE:BGC) shares saw unusually-high trading volume on Thursday . Approximately 1,001,384 shares were traded during trading, an increase of 65% from the previous session’s volume of 608,189 shares.The stock last traded at $14.02 and had previously closed at $14.06.
Separately, Zacks Investment Research upgraded shares of General Cable Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, July 19th.
The company’s market capitalization is $726.83 million. The stock has a 50-day moving average of $13.90 and a 200 day moving average of $12.45.
General Cable Corp. (NYSE:BGC) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.01. The company had revenue of $990 million for the quarter, compared to analysts’ expectations of $991.77 million. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. Analysts predict that General Cable Corp. will post $1.03 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 4.88%.
An institutional investor recently bought a new position in General Cable Corp. stock. Matarin Capital Management LLC acquired a new stake in General Cable Corp. (NYSE:BGC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 438,235 shares of the company’s stock, valued at approximately $5,885,000. General Cable Corp. accounts for 0.9% of Matarin Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Matarin Capital Management LLC owned 0.90% of General Cable Corp. at the end of the most recent quarter.
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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