BGC Partners PT Raised to $8.00 (BGCP)
BGC Financial lifted their price target on shares of BGC Partners (NASDAQ:BGCP) from $7.00 to $8.00 in a research note issued on Friday, Analyst Ratings News reports. BGC Financial’s price target would indicate a potential upside of 12.20% from the company’s current price.
BGC Partners (NASDAQ:BGCP) traded up 1.96% on Friday, hitting $7.27. 1,676,394 shares of the company’s stock traded hands. BGC Partners has a 52 week low of $5.10 and a 52 week high of $7.30. The stock’s 50-day moving average is $6. and its 200-day moving average is $6.31. The company has a market cap of $1.588 billion and a P/E ratio of 19.53.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $445.90 million for the quarter, compared to the consensus estimate of $436.00 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that BGC Partners will post $0.57 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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