BidaskClub lowered shares of BGC Partners, Inc. (NASDAQ:BGCP) from a buy rating to a hold rating in a report published on Friday.
Separately, Zacks Investment Research downgraded BGC Partners from a strong-buy rating to a hold rating in a research report on Tuesday, May 30th.
BGC Partners (BGCP) traded up 0.16% during mid-day trading on Friday, reaching $12.71. The company’s stock had a trading volume of 1,360,317 shares. The stock has a 50-day moving average price of $12.63 and a 200-day moving average price of $11.65. BGC Partners has a one year low of $8.36 and a one year high of $13.44. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 32.02 and a beta of 1.29.
BGC Partners (NASDAQ:BGCP) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. The company had revenue of $737.80 million during the quarter, compared to analyst estimates of $716 million. BGC Partners had a return on equity of 35.29% and a net margin of 4.23%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Equities research analysts forecast that BGC Partners will post $0.99 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 5.66%. The ex-dividend date is Thursday, August 10th. BGC Partners’s dividend payout ratio is currently 180.00%.
A number of large investors have recently made changes to their positions in BGCP. Vanguard Group Inc. boosted its position in shares of BGC Partners by 7.1% in the first quarter. Vanguard Group Inc. now owns 18,310,093 shares of the financial services provider’s stock valued at $208,003,000 after buying an additional 1,214,964 shares in the last quarter. BlackRock Inc. boosted its position in shares of BGC Partners by 66,726.9% in the first quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock valued at $163,409,000 after buying an additional 14,362,966 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of BGC Partners by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,367,855 shares of the financial services provider’s stock valued at $72,338,000 after buying an additional 643,716 shares in the last quarter. State Street Corp boosted its position in shares of BGC Partners by 2.4% in the first quarter. State Street Corp now owns 4,409,057 shares of the financial services provider’s stock valued at $50,085,000 after buying an additional 102,825 shares in the last quarter. Finally, Edge Asset Management Inc. boosted its position in shares of BGC Partners by 19.5% in the first quarter. Edge Asset Management Inc. now owns 4,260,061 shares of the financial services provider’s stock valued at $48,394,000 after buying an additional 694,519 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors.
About BGC Partners
BGC Partners, Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.
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