BGC Partners (NASDAQ:BGCP) Releases Earnings Results, Hits Expectations

BGC Partners (NASDAQ:BGCPGet Rating) released its quarterly earnings results on Wednesday. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17, Fidelity Earnings reports. BGC Partners had a net margin of 5.63% and a return on equity of 50.42%. During the same period in the previous year, the company posted $0.16 EPS. BGC Partners updated its Q3 2022 guidance to EPS.

BGC Partners Stock Performance

BGCP traded up $0.02 during trading on Friday, reaching $4.08. 1,918,832 shares of the company’s stock were exchanged, compared to its average volume of 2,139,107. BGC Partners has a 1 year low of $3.00 and a 1 year high of $5.86. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $1.53 billion, a P/E ratio of 14.57 and a beta of 1.53. The company’s fifty day simple moving average is $3.49 and its 200-day simple moving average is $3.86.

BGC Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Monday, August 22nd. BGC Partners’s payout ratio is currently 14.29%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st.

Hedge Funds Weigh In On BGC Partners

A number of institutional investors have recently bought and sold shares of BGCP. Covestor Ltd raised its position in BGC Partners by 8,382.4% during the 1st quarter. Covestor Ltd now owns 16,371 shares of the financial services provider’s stock worth $72,000 after buying an additional 16,178 shares during the last quarter. Mackenzie Financial Corp grew its stake in BGC Partners by 26.4% in the 1st quarter. Mackenzie Financial Corp now owns 22,767 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 4,757 shares during the period. Graham Capital Management L.P. acquired a new stake in BGC Partners in the 1st quarter valued at $136,000. Engineers Gate Manager LP acquired a new stake in BGC Partners in the 1st quarter valued at $209,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in BGC Partners by 159.0% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 48,487 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 29,764 shares during the last quarter. 54.77% of the stock is owned by hedge funds and other institutional investors.

BGC Partners Company Profile

(Get Rating)

BGC Partners, Inc operates as a financial brokerage and technology company in the United States, France, other Europe, the United Kingdom, other Americas, Asia, Australia, Africa, and the Middle East. It offers various brokerage products, such as fixed income, such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives; and fixed income, equity derivatives and cash equities, energy and commodities, shipping, insurance, and futures and options.

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Earnings History for BGC Partners (NASDAQ:BGCP)

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