BGC Partners (NASDAQ:BGCP) Announces Earnings Results, Hits Estimates

BGC Partners (NASDAQ:BGCPGet Rating) issued its quarterly earnings results on Monday. The financial services provider reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21, MarketWatch Earnings reports. BGC Partners had a return on equity of 46.73% and a net margin of 6.27%. During the same quarter in the prior year, the business posted $0.18 EPS.

BGCP opened at $3.63 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.59. BGC Partners has a 52 week low of $3.53 and a 52 week high of $6.51. The business’s 50 day moving average is $4.23 and its two-hundred day moving average is $4.53. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 11.00 and a beta of 1.67.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 22nd. Investors of record on Tuesday, March 8th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, March 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.10%. BGC Partners’s dividend payout ratio (DPR) is presently 12.12%.

Several analysts recently weighed in on BGCP shares. Zacks Investment Research cut shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Tuesday, March 8th. began coverage on BGC Partners in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Credit Suisse Group assumed coverage on BGC Partners in a report on Tuesday, February 15th. They set an “outperform” rating and a $7.00 price target for the company.

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in BGC Partners in the fourth quarter valued at $13,205,000. Wells Fargo & Company MN raised its stake in BGC Partners by 19.6% during the 4th quarter. Wells Fargo & Company MN now owns 316,248 shares of the financial services provider’s stock valued at $1,471,000 after acquiring an additional 51,774 shares during the last quarter. Walleye Trading LLC acquired a new stake in BGC Partners during the 4th quarter worth approximately $235,000. Deutsche Bank AG grew its stake in shares of BGC Partners by 275.1% in the 4th quarter. Deutsche Bank AG now owns 781,290 shares of the financial services provider’s stock valued at $3,633,000 after purchasing an additional 573,001 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of BGC Partners by 1.6% in the fourth quarter. Sei Investments Co. now owns 814,758 shares of the financial services provider’s stock valued at $3,785,000 after purchasing an additional 13,055 shares during the period. Hedge funds and other institutional investors own 54.77% of the company’s stock.

BGC Partners Company Profile (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.

Further Reading

Earnings History for BGC Partners (NASDAQ:BGCP)

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