General Cable Given New $24.00 Price Target at Davidson (BGC)
Investment analysts at Davidson cut their price target on shares of General Cable (NYSE:BGC) from $26.00 to $24.00 in a note issued to investors on Friday, AnalystRatings.Net reports. Davidson’s price objective indicates a potential upside of 1.91% from the company’s current price.
Shares of General Cable (NYSE:BGC) opened at 23.55 on Friday. General Cable has a 52-week low of $22.76 and a 52-week high of $36.56. The stock’s 50-day moving average is $26.05 and its 200-day moving average is $28.7. The company’s market cap is $1.160 billion.
General Cable (NYSE:BGC) last announced its earnings results on Wednesday, April 30th. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.09) by $0.04. The company had revenue of $1.43 million for the quarter, compared to the consensus estimate of $1.52 million. On average, analysts predict that General Cable will post $1.43 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BGC. Analysts at DA Davidson reiterated a “neutral” rating on shares of General Cable in a research note on Thursday. They now have a $24.00 price target on the stock. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of General Cable in a research note on Monday, April 21st. They now have a $30.00 price target on the stock, down previously from $31.50. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.04.
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.
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