BGC Partners Price Target Cut to $6.50 by Analysts at Keefe, Bruyette & Woods (BGCP)
Stock analysts at Keefe, Bruyette & Woods decreased their target price on shares of BGC Partners (NASDAQ:BGCP) from $7.00 to $6.50 in a report issued on Wednesday, Stock Ratings Network.com reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 25.73% from the stock’s previous close.
Shares of BGC Partners (NASDAQ:BGCP) traded up 0.78% during mid-day trading on Wednesday, hitting $5.17. 913,622 shares of the company’s stock traded hands. BGC Partners has a 52-week low of $3.11 and a 52-week high of $6.53. The stock has a 50-day moving average of $5.64 and a 200-day moving average of $5.74. The company has a market cap of $888.6 million and a price-to-earnings ratio of 14.83.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $471.10 million for the quarter, compared to the consensus estimate of $460.92 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts predict that BGC Partners will post $0.51 earnings per share for the current fiscal year.
BGC Partners, Inc (NASDAQ:BGCP) is a global brokerage company primarily servicing the wholesale financial markets, specializing in the brokering of a range of products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, property derivatives, commodities, futures and structured products.
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