BGC Partners Price Target Raised to $7.00 at BGC Financial (BGCP)

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Equities research analysts at BGC Financial lifted their price objective on shares of BGC Partners (NASDAQ:BGCP) from $6.00 to $7.00 in a research note issued to investors on Thursday, StockRatingsNetwork reports. BGC Financial’s price target suggests a potential upside of 2.79% from the company’s current price.

BGC Partners (NASDAQ:BGCP) traded up 0.66% on Thursday, hitting $6.855. The stock had a trading volume of 267,018 shares. BGC Partners has a 52 week low of $5.10 and a 52 week high of $7.30. The stock’s 50-day moving average is $6.83 and its 200-day moving average is $6.15. The company has a market cap of $1.497 billion and a price-to-earnings ratio of 18.66.

BGC Partners (NASDAQ:BGCP) last announced its earnings results on Wednesday, February 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $432.90 million for the quarter, compared to the consensus estimate of $421.88 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Analysts expect that BGC Partners will post $0.57 EPS for the current fiscal year.

BGC Partners, Inc (NASDAQ:BGCP) is a global brokerage company primarily servicing the wholesale financial markets, specializing in the brokering of a range of products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, property derivatives, commodities, futures and structured products.

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