General Cable (BGC) Announces Quarterly Results
General Cable (NYSE:BGC) announced its earnings results on Wednesday. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.01, Stock Ratings Network reports. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis.
A number of analysts have recently weighed in on BGC shares. Analysts at Zacks upgraded shares of General Cable from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $26.40 price target on the stock. On the ratings front, analysts at TheStreet downgraded shares of General Cable from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Finally, analysts at Davidson cut their price target on shares of General Cable from $26.00 to $24.00 in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.08.
General Cable (NYSE:BGC) traded up 0.78% during mid-day trading on Wednesday, hitting $24.62. The stock had a trading volume of 524,507 shares. General Cable has a 1-year low of $22.76 and a 1-year high of $34.61. The stock has a 50-day moving average of $25.1 and a 200-day moving average of $26.61. The company’s market cap is $1.198 billion.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Stockholders of record on Monday, August 18th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, August 14th.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.