Zacks Investment Research upgraded shares of BGC Partners (NASDAQ:BGCP) from a sell rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. They currently have $6.00 target price on the financial services provider’s stock.
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 Zebra Technologies from a hold rating to a buy rating in a research report on Saturday, July 6th. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $11.00.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $544.80 million during the quarter, compared to analyst estimates of $535.25 million. BGC Partners had a return on equity of 36.39% and a net margin of 6.74%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. On average, research analysts forecast that BGC Partners will post 0.65 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in BGC Partners by 15.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 14,604 shares of the financial services provider’s stock valued at $78,000 after buying an additional 1,961 shares in the last quarter. PNC Financial Services Group Inc. increased its position in BGC Partners by 21.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,474 shares of the financial services provider’s stock valued at $60,000 after buying an additional 2,053 shares in the last quarter. Creative Planning increased its position in BGC Partners by 9.0% during the 1st quarter. Creative Planning now owns 25,809 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,135 shares in the last quarter. Wedbush Securities Inc. increased its position in BGC Partners by 15.3% during the 1st quarter. Wedbush Securities Inc. now owns 20,398 shares of the financial services provider’s stock valued at $108,000 after buying an additional 2,713 shares in the last quarter. Finally, Rhumbline Advisers increased its position in BGC Partners by 1.2% during the 4th quarter. Rhumbline Advisers now owns 238,189 shares of the financial services provider’s stock valued at $1,231,000 after buying an additional 2,739 shares in the last quarter. 52.28% of the stock is currently owned by 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.
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