BidaskClub upgraded shares of General Cable Corporation (NYSE:BGC) from a hold rating to a buy rating in a research report report published on Friday.

General Cable Corporation (NYSE BGC) opened at 18.00 on Friday. The company’s 50-day moving average is $17.10 and its 200 day moving average is $17.34. General Cable Corporation has a one year low of $11.70 and a one year high of $20.80. The firm’s market cap is $895.57 million.

General Cable Corporation (NYSE:BGC) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.12. The business had revenue of $943.10 million for the quarter. General Cable Corporation had a negative net margin of 4.80% and a positive return on equity of 13.47%. Equities analysts anticipate that General Cable Corporation will post $0.75 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in BGC. BlackRock Inc. raised its stake in General Cable Corporation by 60,712.5% in the first quarter. BlackRock Inc. now owns 6,002,799 shares of the industrial products company’s stock valued at $107,750,000 after buying an additional 5,992,928 shares during the last quarter. Pictet Asset Management Ltd. purchased a new stake in General Cable Corporation during the second quarter valued at about $10,053,000. Norges Bank purchased a new stake in General Cable Corporation during the fourth quarter valued at about $10,250,000. Deprince Race & Zollo Inc. raised its stake in General Cable Corporation by 860.6% in the second quarter. Deprince Race & Zollo Inc. now owns 558,606 shares of the industrial products company’s stock valued at $9,133,000 after buying an additional 500,452 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in General Cable Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 8,286,764 shares of the industrial products company’s stock valued at $148,748,000 after buying an additional 433,933 shares during the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

General Cable Corporation 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’s segments include North America, Europe, Latin America, and Africa/Asia Pacific.

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