BGC Partners Hits New 1-Year High Following Earnings Beat (BGCP)
BGC Partners (NASDAQ:BGCP)’s share price hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement, Stock Ratings News reports. The stock traded as high as $6.94 and last traded at $6.83, with a volume of 1,843,139 shares traded. The stock had previously closed at $6.58.
The company reported $0.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.04. The company had revenue of $432.90 million for the quarter, compared to the consensus estimate of $421.88 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis.
The stock’s 50-day moving average is $6.26 and its 200-day moving average is $5.84. The company has a market cap of $1.456 billion and a P/E ratio of 14.59.
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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