Research analysts at CL King initiated coverage on shares of General Cable Corp. (NYSE:BGC) in a report issued on Thursday, The Fly reports. The brokerage set a “neutral” rating on the stock.

Several other analysts have also commented on BGC. DA Davidson reaffirmed a “hold” rating on shares of General Cable Corp. in a research report on Monday, November 7th. Zacks Investment Research raised shares of General Cable Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 5th. Finally, TheStreet raised shares of General Cable Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 29th.

Shares of General Cable Corp. (NYSE:BGC) opened at 18.75 on Thursday. The company has a 50 day moving average price of $15.37 and a 200-day moving average price of $14.65. General Cable Corp. has a 52-week low of $6.22 and a 52-week high of $19.35. The stock’s market capitalization is $924.30 million.

General Cable Corp. (NYSE:BGC) last released its earnings results on Wednesday, November 2nd. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.19. General Cable Corp. had a positive return on equity of 33.36% and a negative net margin of 0.98%. The business earned $924.50 million during the quarter, compared to analysts’ expectations of $925 million. During the same period last year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, analysts predict that General Cable Corp. will post $0.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Wednesday, December 7th. General Cable Corp.’s payout ratio is -90.00%.

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A number of hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of General Cable Corp. by 975.0% in the second quarter. Nisa Investment Advisors LLC now owns 8,600 shares of the company’s stock worth $109,000 after buying an additional 7,800 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in shares of General Cable Corp. during the second quarter worth about $122,000. KCG Holdings Inc. purchased a new stake in shares of General Cable Corp. during the second quarter worth about $127,000. Rational Advisors LLC purchased a new stake in shares of General Cable Corp. during the second quarter worth about $130,000. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of General Cable Corp. during the second quarter worth about $137,000. 99.90% of the stock is currently owned by institutional investors.

General Cable Corp. Company Profile

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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