According to Zacks, “General Cable Corp. is a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the communications, energy and electrical markets. The company sells its products primarily to commercial, industrial, utility, telecommunications, original equipment manufacturers, military/government, retail, electrical, and communications distributor customers worldwide. “
Separately, TheStreet raised General Cable Corp. from a sell rating to a hold rating in a research note on Monday, August 29th.
Shares of General Cable Corp. (NYSE:BGC) opened at 14.90 on Wednesday. The company’s market capitalization is $734.39 million. The firm’s 50-day moving average price is $15.01 and its 200-day moving average price is $14.19. General Cable Corp. has a one year low of $6.22 and a one year high of $16.46.
General Cable Corp. (NYSE:BGC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.01. General Cable Corp. had a negative net margin of 1.33% and a positive return on equity of 34.01%. The company had revenue of $990 million for the quarter, compared to the consensus estimate of $991.77 million. During the same period last year, the business posted $0.36 earnings per share. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. Analysts anticipate that General Cable Corp. will post $0.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.83%. General Cable Corp.’s dividend payout ratio is currently -65.45%.
Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in General Cable Corp. by 975.0% in the second quarter. Nisa Investment Advisors LLC now owns 8,600 shares of the company’s stock worth $109,000 after buying an additional 7,800 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in General Cable Corp. during the second quarter worth $122,000. KCG Holdings Inc. purchased a new stake in General Cable Corp. during the second quarter worth $127,000. Rational Advisors LLC purchased a new stake in General Cable Corp. during the second quarter worth $130,000. Finally, Emerald Acquisition Ltd. purchased a new stake in General Cable Corp. during the second quarter worth $137,000. Institutional investors own 98.44% of the company’s stock.
General Cable Corp. Company Profile
General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The Company operates through four segments: North America, Europe, Latin America, and Africa/Asia Pacific.
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