General Cable Reaches New 1-Year Low at $20.82 (BGC)
General Cable (NYSE:BGC)’s share price reached a new 52-week low during trading on Friday , Analyst Ratings Network reports. The company traded as low as $20.82 and last traded at $20.88, with a volume of 214,968 shares traded. The stock had previously closed at $21.12.
Separately, analysts at Zacks downgraded shares of General Cable from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 6th. They now have a $20.40 price target on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. General Cable has a consensus rating of “Hold” and an average target price of $26.88.
The stock has a 50-day moving average of $23.81 and a 200-day moving average of $25.97. The company’s market cap is $1.022 billion.
General Cable (NYSE:BGC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts predict that General Cable will post $1.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Shareholders 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 3.41%. The ex-dividend date of this dividend is Thursday, August 14th.
In other General Cable news, EVP Gregory J. Lampert bought 1,745 shares of the stock on the open market in a transaction dated Tuesday, August 5th. The shares were purchased at an average cost of $21.21 per share, for a total transaction of $37,011.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
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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