BGC Partners (BGCP) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS
BGC Partners (NASDAQ:BGCP) released its quarterly earnings data on Friday. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.07, Bloomberg Earnings reports. The business had revenue of $894.23 million during the quarter, compared to analysts’ expectations of $853.00 million. BGC Partners had a return on equity of 42.02% and a net margin of 4.67%. During the same period in the prior year, the firm posted $0.25 EPS.
BGC Partners (NASDAQ BGCP) traded down $0.28 during trading hours on Friday, hitting $13.01. The stock had a trading volume of 3,034,017 shares, compared to its average volume of 1,840,000. The firm has a market cap of $3,680.00, a PE ratio of 20.65 and a beta of 1.06. BGC Partners has a twelve month low of $10.39 and a twelve month high of $16.97. The company has a current ratio of 1.32, a quick ratio of 1.31 and a debt-to-equity ratio of 2.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, February 26th. This represents a $0.72 annualized dividend and a dividend yield of 5.53%. BGC Partners’s dividend payout ratio is currently 114.29%.
Several large investors have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. boosted its position in shares of BGC Partners by 59.9% during the 4th quarter. First Republic Investment Management Inc. now owns 34,632 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 12,970 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of BGC Partners during the 4th quarter worth about $153,000. ARP Americas LP acquired a new position in shares of BGC Partners during the 4th quarter worth about $827,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of BGC Partners in the 4th quarter valued at about $1,497,000. Finally, Virtu Financial LLC lifted its holdings in shares of BGC Partners by 105.9% in the 4th quarter. Virtu Financial LLC now owns 54,002 shares of the financial services provider’s stock valued at $816,000 after purchasing an additional 27,781 shares during the last quarter. 43.72% of the stock is owned by institutional investors and hedge funds.
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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.
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