BidaskClub lowered shares of BGC Partners (NASDAQ:BGCP) from a sell rating to a strong sell rating in a report released on Tuesday.

BGCP has been the subject of several other reports. Zacks Investment Research cut BGC Partners from a hold rating to a strong sell rating in a research report on Monday, January 21st. TheStreet cut BGC Partners from a b rating to a c+ rating in a research report on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $14.00.

BGCP opened at $5.81 on Tuesday. BGC Partners has a 1-year low of $4.93 and a 1-year high of $14.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 1.20. The company has a market capitalization of $1.95 billion, a PE ratio of 8.07 and a beta of 1.37.

BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Thursday, February 14th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). BGC Partners had a net margin of 5.82% and a return on equity of 39.22%. The business had revenue of $466.40 million during the quarter, compared to the consensus estimate of $462.00 million. During the same period in the prior year, the company posted $0.12 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that BGC Partners will post 0.75 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be given a $0.14 dividend. This is a boost from BGC Partners’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 9.64%. The ex-dividend date of this dividend is Tuesday, March 5th. BGC Partners’s dividend payout ratio (DPR) is 77.78%.

A number of hedge funds have recently modified their holdings of BGCP. Bank of Montreal Can lifted its position in BGC Partners by 48.2% in the third quarter. Bank of Montreal Can now owns 86,121 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 27,995 shares during the period. Aperio Group LLC lifted its position in BGC Partners by 8.2% in the third quarter. Aperio Group LLC now owns 93,586 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 7,107 shares during the period. Russell Investments Group Ltd. lifted its position in BGC Partners by 2.2% in the third quarter. Russell Investments Group Ltd. now owns 741,277 shares of the financial services provider’s stock worth $8,762,000 after purchasing an additional 16,103 shares during the period. Comerica Bank lifted its position in BGC Partners by 863.3% in the third quarter. Comerica Bank now owns 99,811 shares of the financial services provider’s stock worth $1,055,000 after purchasing an additional 89,450 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its position in BGC Partners by 40.2% in the third quarter. Virginia Retirement Systems ET AL now owns 98,300 shares of the financial services provider’s stock worth $1,162,000 after purchasing an additional 28,200 shares during the period. 53.68% of the stock is 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.

See Also: Liquidity

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