Zacks Investment Research upgraded shares of BGC Partners, Inc. (NASDAQ:BGCP) from a sell rating to a hold rating in a research report report published on Tuesday.
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. “
A number of other research firms also recently issued reports on BGCP. ValuEngine upgraded shares of BGC Partners from a buy rating to a strong-buy rating in a research report on Friday, September 1st. BidaskClub upgraded shares of BGC Partners from a hold rating to a buy rating in a research report on Sunday, July 16th.
BGC Partners (BGCP) opened at 14.47 on Tuesday. The company has a market capitalization of $4.09 billion, a PE ratio of 39.75 and a beta of 1.31. The company has a 50-day moving average price of $12.87 and a 200-day moving average price of $12.07. BGC Partners has a one year low of $8.36 and a one year high of $14.50.
BGC Partners (NASDAQ:BGCP) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $737.80 million during the quarter, compared to the consensus estimate of $716.00 million. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. Analysts expect that BGC Partners will post $0.99 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. IMS Capital Management lifted its position in BGC Partners by 0.4% during the second quarter. IMS Capital Management now owns 12,720 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 49 shares during the period. M&T Bank Corp lifted its position in BGC Partners by 1.3% during the second quarter. M&T Bank Corp now owns 20,250 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 250 shares during the period. Teacher Retirement System of Texas lifted its position in BGC Partners by 2.3% during the second quarter. Teacher Retirement System of Texas now owns 16,668 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 375 shares during the period. Schnieders Capital Management LLC lifted its position in BGC Partners by 2.5% during the second quarter. Schnieders Capital Management LLC now owns 20,600 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 500 shares during the period. Finally, Advisor Group Inc. lifted its position in BGC Partners by 7.6% during the second quarter. Advisor Group Inc. now owns 11,974 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 850 shares during the period. Institutional investors own 42.25% of the company’s stock.
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.
Get a free copy of the Zacks research report on BGC Partners (BGCP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com