Wall Street brokerages expect BGC Partners, Inc. (NASDAQ:BGCP – Get Rating) to announce sales of $519.95 million for the current quarter, according to Zacks. Two analysts have provided estimates for BGC Partners’ earnings, with the highest sales estimate coming in at $520.90 million and the lowest estimate coming in at $519.00 million. BGC Partners reported sales of $567.58 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.4%. The business is scheduled to report its next earnings results after the market closes on Monday, January 1st.
On average, analysts expect that BGC Partners will report full year sales of $1.92 billion for the current fiscal year, with estimates ranging from $1.89 billion to $1.95 billion. For the next financial year, analysts expect that the firm will report sales of $2.01 billion, with estimates ranging from $1.97 billion to $2.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover BGC Partners.
BGC Partners (NASDAQ:BGCP – Get Rating) last issued its quarterly earnings data on Wednesday, February 16th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $461.59 million during the quarter, compared to the consensus estimate of $485.95 million. BGC Partners had a net margin of 6.27% and a return on equity of 46.73%. During the same period last year, the business posted $0.13 earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FIL Ltd increased its position in shares of BGC Partners by 19.9% during the third quarter. FIL Ltd now owns 4,614,500 shares of the financial services provider’s stock valued at $24,042,000 after buying an additional 767,000 shares during the period. Franklin Resources Inc. purchased a new stake in BGC Partners in the third quarter worth $3,350,000. Boussard & Gavaudan Investment Management LLP purchased a new stake in BGC Partners in the third quarter worth $27,281,000. Dynamic Technology Lab Private Ltd lifted its position in BGC Partners by 126.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 37,948 shares of the financial services provider’s stock valued at $198,000 after buying an additional 21,214 shares during the period. Finally, Wealthspire Advisors LLC purchased a new position in BGC Partners during the third quarter valued at $124,000. 55.71% of the stock is owned by institutional investors.
Shares of BGCP stock opened at $3.72 on Monday. The firm has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $4.60. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $1.37 billion, a PE ratio of 11.27 and a beta of 1.66. BGC Partners has a 12-month low of $3.71 and a 12-month high of $6.51.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22nd. Shareholders of record on Tuesday, March 8th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Monday, March 7th. BGC Partners’s payout ratio is 12.12%.
About BGC Partners (Get Rating)
BGC Partners, Inc operates as a financial brokerage and technology company in the United States, France, other Europe, the United Kingdom, other Americas, Asia, Australia, Africa, and the Middle East. It offers various brokerage products, such as fixed income, such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives; and fixed income, equity derivatives and cash equities, energy and commodities, shipping, insurance, and futures and options.
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