Zacks Investment Research cut shares of BGC Partners (NASDAQ:BGCP) from a hold rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “BGC PARTNERS, INC. is a leading global full-service inter-dealer broker, specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to some of the world’s largest and most credit worthy banks, broker-dealers, investment banks and investment firms for a broad range of global financial products, including fixed income securities, foreign exchange, equity derivatives, credit derivatives, futures, structured products and other instruments. Through its eSpeed and BGCantor Market Data brands, BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto. “

Separately, BidaskClub raised BGC Partners from a hold rating to a buy rating in a research report on Saturday, July 6th. Two research analysts have rated the stock with a sell rating and two have assigned a strong buy rating to the company. BGC Partners currently has an average rating of Buy and a consensus price target of $11.00.

BGCP stock traded up $0.01 during trading on Tuesday, hitting $5.68. 27,662 shares of the company traded hands, compared to its average volume of 1,439,089. The firm has a market capitalization of $1.96 billion, a PE ratio of 7.93 and a beta of 1.43. BGC Partners has a 1 year low of $4.46 and a 1 year high of $12.14. The company has a 50-day moving average of $5.18 and a 200-day moving average of $5.33. 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 issued its earnings results on Thursday, July 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $551.20 million for the quarter, compared to analysts’ expectations of $546.65 million. BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. Sell-side analysts expect that BGC Partners will post 0.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders 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 9.86%. The ex-dividend date of this dividend was Tuesday, August 13th. BGC Partners’s payout ratio is 77.78%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in shares of BGC Partners in the 2nd quarter worth approximately $25,000. Optimum Investment Advisors bought a new position in shares of BGC Partners in the 1st quarter worth approximately $27,000. Rockefeller Capital Management L.P. bought a new position in shares of BGC Partners in the 2nd quarter worth approximately $27,000. Riverhead Capital Management LLC bought a new position in shares of BGC Partners in the 2nd quarter worth approximately $28,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in shares of BGC Partners in the 2nd quarter worth approximately $33,000. 52.61% of the stock is owned by institutional investors and hedge funds.

About BGC Partners

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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