BidaskClub lowered shares of General Cable Corporation (NYSE:BGC) from a buy rating to a hold rating in a report published on Monday morning.
Shares of General Cable Corporation (NYSE BGC) remained flat at $17.85 on Monday. The company’s stock had a trading volume of 44,535 shares. General Cable Corporation has a 12-month low of $11.70 and a 12-month high of $20.80. The company’s market cap is $888.11 million. The firm’s 50 day moving average is $17.62 and its 200 day moving average is $17.29.
General Cable Corporation (NYSE:BGC) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.12. General Cable Corporation had a positive return on equity of 13.47% and a negative net margin of 4.80%. The firm had revenue of $943.10 million for the quarter. Equities research analysts anticipate that General Cable Corporation will post $0.75 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, September 7th. General Cable Corporation’s dividend payout ratio (DPR) is currently -20.17%.
Large investors have recently modified their holdings of the stock. Algert Global LLC raised its stake in shares of General Cable Corporation by 103.5% in the first quarter. Algert Global LLC now owns 140,302 shares of the industrial products company’s stock worth $2,518,000 after buying an additional 71,370 shares during the period. First Trust Advisors LP raised its stake in shares of General Cable Corporation by 40.7% in the first quarter. First Trust Advisors LP now owns 53,628 shares of the industrial products company’s stock worth $963,000 after buying an additional 15,510 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of General Cable Corporation during the first quarter worth about $232,000. Great West Life Assurance Co. Can raised its stake in shares of General Cable Corporation by 6.3% in the first quarter. Great West Life Assurance Co. Can now owns 69,832 shares of the industrial products company’s stock worth $1,250,000 after buying an additional 4,127 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of General Cable Corporation by 5.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 29,866 shares of the industrial products company’s stock worth $536,000 after buying an additional 1,608 shares during the period. 99.40% of the stock is owned by institutional investors.
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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