General Cable Corp. (BGC) Stock Price Up 3.7%
Shares of General Cable Corp. (NYSE:BGC) rose 3.7% on Tuesday . The stock traded as high as $15.94 and last traded at $15.85, with a volume of 150,688 shares trading hands. The stock had previously closed at $15.29.
Separately, Zacks Investment Research raised shares of General Cable Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Tuesday, May 3rd.
The company has a 50-day moving average price of $14.48 and a 200 day moving average price of $12.82. The firm’s market capitalization is $791.57 million.
General Cable Corp. (NYSE:BGC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.01. During the same quarter last year, the firm earned $0.36 EPS. The firm had revenue of $990 million for the quarter, compared to analyst estimates of $991.77 million. The company’s quarterly revenue was down 11.1% on a year-over-year basis. On average, analysts forecast that General Cable Corp. will post $0.89 EPS for the current fiscal year.
The company 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 $0.18 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.48%.
A hedge fund recently raised its stake in General Cable Corp. stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in General Cable Corp. (NYSE:BGC) by 24.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,125 shares of the company’s stock after buying an additional 59,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.63% of General Cable Corp. worth $4,111,000 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.