General Cable Hits New 52-Week Low at $21.95 (BGC)
General Cable (NYSE:BGC)’s share price reached a new 52-week low during trading on Friday , Stock Ratings Network.com reports. The stock traded as low as $21.95 and last traded at $21.99, with a volume of 471,048 shares changing hands. The stock had previously closed at $22.23.
Separately, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $28.08.
The stock’s 50-day moving average is $24.98 and its 200-day moving average is $26.56. The company’s market cap is $1.063 billion.
General Cable (NYSE:BGC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.01. 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. On average, analysts predict that General Cable will post $1.18 earnings per share for the current fiscal year.
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 3.30%. 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.
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