Zacks: BGC Partners, Inc. (BGCP) Given $18.00 Average Target Price by Analysts

BGC Partners, Inc. (NASDAQ:BGCP) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus target price of $18.00 for the company and are expecting that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also given BGC Partners an industry rank of 88 out of 265 based on the ratings given to its competitors.

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Several analysts have issued reports on BGCP shares. BGC Financial raised shares of BGC Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. BidaskClub downgraded shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. ValuEngine downgraded shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, TheStreet downgraded shares of BGC Partners from a “b” rating to a “c+” rating in a research note on Monday, February 12th.

Shares of BGC Partners stock traded down $0.30 during midday trading on Monday, hitting $13.11. 2,013,064 shares of the company’s stock traded hands, compared to its average volume of 2,371,701. BGC Partners has a 12 month low of $10.39 and a 12 month high of $16.97. The stock has a market capitalization of $4,106.69, a P/E ratio of 12.08 and a beta of 1.10. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 1.45.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.07. BGC Partners had a net margin of 0.05% and a return on equity of 47.22%. The company had revenue of $894.23 million for the quarter, compared to the consensus estimate of $853.00 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. equities research analysts expect that BGC Partners will post 1.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Monday, February 26th.

Several institutional investors and hedge funds have recently made changes to their positions in BGCP. Nationwide Fund Advisors lifted its stake in shares of BGC Partners by 53.2% during the third quarter. Nationwide Fund Advisors now owns 127,000 shares of the financial services provider’s stock valued at $1,838,000 after buying an additional 44,100 shares during the period. American Century Companies Inc. purchased a new position in shares of BGC Partners during the third quarter valued at approximately $1,188,000. Swiss National Bank lifted its stake in shares of BGC Partners by 1.9% during the third quarter. Swiss National Bank now owns 355,408 shares of the financial services provider’s stock valued at $5,143,000 after buying an additional 6,500 shares during the period. Sei Investments Co. lifted its stake in shares of BGC Partners by 78.9% during the third quarter. Sei Investments Co. now owns 14,871 shares of the financial services provider’s stock valued at $215,000 after buying an additional 6,559 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of BGC Partners during the third quarter valued at approximately $516,000. 44.35% of the stock is currently 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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