General Cable Corp. (BGC) Trading Up 3.7%
Shares of General Cable Corp. (NYSE:BGC) were up 3.7% during mid-day trading on Tuesday . The stock traded as high as $15.94 and last traded at $15.85, with a volume of 150,688 shares changing hands. The stock had previously closed at $15.29.
Separately, Zacks Investment Research downgraded shares of General Cable Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th.
The firm’s market cap is $777.27 million. The stock’s 50 day moving average is $14.63 and its 200 day moving average is $12.88.
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 Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $990 million for the quarter, compared to analyst estimates of $991.77 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, analysts expect 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. Investors of record on Friday, September 9th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.57%.
A hedge fund recently raised its stake in General Cable Corp. stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in General Cable Corp. (NYSE:BGC) by 24.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 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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