General Cable Corp. (BGC) Trading 5.4% Higher
General Cable Corp. (NYSE:BGC)’s share price traded up 5.4% during trading on Monday . The company traded as high as $15.57 and last traded at $15.51, with a volume of 146,089 shares traded. The stock had previously closed at $14.71.
Separately, Zacks Investment Research raised General Cable Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Tuesday, May 3rd.
The company’s market capitalization is $764.46 million. The stock has a 50 day moving average price of $14.02 and a 200 day moving average price of $12.59.
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. Equities analysts forecast 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 4.64%. 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 acquired a new stake in shares of General Cable Corp. (NYSE:BGC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 438,235 shares of the company’s stock, valued at approximately $5,885,000. General Cable Corp. comprises about 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 reporting period.
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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