BGC Partners (NASDAQ:BGCP) Upgraded by BidaskClub to “Strong-Buy”

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BidaskClub upgraded shares of BGC Partners (NASDAQ:BGCP) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday, BidAskClub reports.

Separately, Zacks Investment Research downgraded shares of BGC Partners from a hold rating to a sell rating in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and two have given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $11.00.

Shares of BGCP opened at $5.66 on Thursday. The company’s 50 day moving average price is $5.18 and its 200 day moving average price is $5.32. BGC Partners has a 52 week low of $4.46 and a 52 week high of $12.14. The company has a market capitalization of $1.96 billion, a PE ratio of 7.86 and a beta of 1.43. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.09 and a current ratio of 1.11.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. The company had revenue of $551.20 million for the quarter, compared to analysts’ expectations of $546.65 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts forecast that BGC Partners will post 0.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 9.89%. The ex-dividend date of this dividend was Tuesday, August 13th. BGC Partners’s payout ratio is presently 77.78%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signition LP purchased a new position in BGC Partners during the second quarter valued at approximately $71,000. Bristlecone Advisors LLC bought a new stake in BGC Partners in the second quarter worth approximately $420,000. Boston Partners grew its position in BGC Partners by 1.3% in the first quarter. Boston Partners now owns 283,685 shares of the financial services provider’s stock worth $1,506,000 after acquiring an additional 3,674 shares in the last quarter. Cedar Brook Financial Partners LLC grew its position in BGC Partners by 54.2% in the second quarter. Cedar Brook Financial Partners LLC now owns 28,216 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 9,920 shares in the last quarter. Finally, Comerica Bank bought a new stake in BGC Partners in the second quarter worth approximately $71,000. 52.61% of the stock is currently owned by hedge funds and other institutional investors.

BGC Partners Company Profile

BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.

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