General Cable Corp. (BGC) Stock Price Up 5.4%
General Cable Corp. (NYSE:BGC)’s share price rose 5.4% on Monday . The company traded as high as $15.57 and last traded at $15.51, with a volume of 146,089 shares changing hands. The stock had previously closed at $14.71.
Separately, Zacks Investment Research downgraded General Cable Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th.
The stock’s market cap is $763.47 million. The company has a 50-day moving average price of $14.16 and a 200-day moving average price of $12.68.
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 Thomson Reuters’ consensus estimate of $0.31 by $0.01. The firm earned $990 million during the quarter, compared to analyst estimates of $991.77 million. During the same quarter in the previous year, the business earned $0.36 EPS. General Cable Corp.’s quarterly revenue was down 11.1% compared to the same quarter last year. Analysts expect that General Cable Corp. will post $0.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Wednesday, September 7th.
An institutional investor recently raised its position in General Cable Corp. stock. New York State Common Retirement Fund raised its stake in shares of General Cable Corp. (NYSE:BGC) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 about 0.19% of General Cable Corp. worth $1,258,000 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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