BGC Partners, Inc. (NASDAQ:BGCP) announced its earnings results on Wednesday. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24, MarketWatch Earnings reports. BGC Partners had a return on equity of 32.21% and a net margin of 4.14%. The firm had revenue of $737.80 million during the quarter, compared to analyst estimates of $716 million. During the same quarter in the prior year, the company earned $0.21 EPS. The business’s revenue was up 12.8% compared to the same quarter last year.

BGC Partners (BGCP) traded down 6.43% during mid-day trading on Wednesday, hitting $12.51. The company had a trading volume of 3,002,386 shares. BGC Partners has a 1-year low of $8.36 and a 1-year high of $13.42. The company has a 50 day moving average of $12.56 and a 200 day moving average of $11.60. The firm has a market capitalization of $3.56 billion, a PE ratio of 33.10 and a beta of 1.29.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Monday, August 14th will be paid a $0.18 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.72 annualized dividend and a dividend yield of 5.76%. BGC Partners’s payout ratio is currently 184.62%.

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Several research analysts have recently issued reports on the company. BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research raised BGC Partners from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Friday, June 30th.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of BGC Partners by 66,726.9% in the first quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock worth $163,409,000 after buying an additional 14,362,966 shares during the period. Norges Bank acquired a new position in shares of BGC Partners during the fourth quarter worth approximately $18,279,000. Vanguard Group Inc. increased its position in shares of BGC Partners by 7.1% in the first quarter. Vanguard Group Inc. now owns 18,310,093 shares of the financial services provider’s stock worth $208,003,000 after buying an additional 1,214,964 shares during the period. Renaissance Technologies LLC increased its position in shares of BGC Partners by 160.1% in the first quarter. Renaissance Technologies LLC now owns 1,332,648 shares of the financial services provider’s stock worth $15,139,000 after buying an additional 820,200 shares during the period. Finally, Edge Asset Management Inc. increased its position in shares of BGC Partners by 19.5% in the first quarter. Edge Asset Management Inc. now owns 4,260,061 shares of the financial services provider’s stock worth $48,394,000 after buying an additional 694,519 shares during the period. 45.88% of the stock is owned by institutional investors.

About BGC Partners

BGC Partners, Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.

Earnings History for BGC Partners (NASDAQ:BGCP)

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