ValuEngine Upgrades BGC Partners, Inc. (BGCP) to Strong-Buy
BGC Partners, Inc. (NASDAQ:BGCP) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
Several other equities research analysts have also recently commented on BGCP. BidaskClub upgraded shares of BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research cut shares of BGC Partners from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.
Shares of BGC Partners (BGCP) traded down 0.08% during midday trading on Friday, hitting $12.98. 1,288,234 shares of the company were exchanged. The stock’s 50-day moving average is $12.85 and its 200-day moving average is $11.95. BGC Partners has a one year low of $8.36 and a one year high of $13.44. The stock has a market cap of $3.72 billion, a PE ratio of 32.70 and a beta of 1.31.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The company had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $716 million. During the same quarter in the previous year, the company earned $0.21 EPS. BGC Partners’s revenue was up 12.8% on a year-over-year basis. Equities research analysts anticipate that BGC Partners will post $0.99 EPS for the current year.
Several large investors have recently modified their holdings of BGCP. Teachers Advisors LLC grew its position in shares of BGC Partners by 2.2% during the 4th quarter. Teachers Advisors LLC now owns 355,684 shares of the financial services provider’s stock worth $3,639,000 after buying an additional 7,618 shares during the period. Creative Planning grew its position in shares of BGC Partners by 2.8% during the 1st quarter. Creative Planning now owns 15,560 shares of the financial services provider’s stock worth $177,000 after buying an additional 421 shares during the period. Bank of Montreal Can grew its position in shares of BGC Partners by 23.1% during the 1st quarter. Bank of Montreal Can now owns 55,789 shares of the financial services provider’s stock worth $633,000 after buying an additional 10,469 shares during the period. Shell Asset Management Co. acquired a new stake in shares of BGC Partners during the 1st quarter worth approximately $1,116,000. Finally, Wells Fargo & Company MN grew its position in shares of BGC Partners by 17.4% during the 1st quarter. Wells Fargo & Company MN now owns 567,501 shares of the financial services provider’s stock worth $6,446,000 after buying an additional 84,031 shares during the period. Institutional investors own 43.74% of the company’s stock.
BGC Partners Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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