General Cable Corp. (BGC) Trading 6% Higher
General Cable Corp. (NYSE:BGC) traded up 6% during trading on Friday . The stock traded as high as $14.99 and last traded at $14.52, with a volume of 387,859 shares. The stock had previously closed at $13.70.
Separately, Zacks Investment Research cut General Cable Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th.
The firm’s market capitalization is $726.83 million. The company has a 50 day moving average of $13.90 and a 200-day moving average of $12.45.
General Cable Corp. (NYSE:BGC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. During the same period in the prior year, the business posted $0.36 earnings per share. The business earned $990 million during the quarter, compared to analysts’ expectations of $991.77 million. The firm’s revenue was down 11.1% on a year-over-year basis. Equities analysts forecast that General Cable Corp. will post $1.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.88%. The ex-dividend date is Wednesday, September 7th.
A hedge fund recently bought a new stake in General Cable Corp. stock. Matarin Capital Management LLC purchased a new stake in General Cable Corp. (NYSE:BGC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 438,235 shares of the company’s stock, valued at approximately $5,885,000. General Cable Corp. makes up 0.9% of Matarin Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Matarin Capital Management LLC owned approximately 0.90% of General Cable Corp. 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.
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