Last $8.70 USD
Change Today +0.02 / 0.23%
Volume 396.8K
As of 5:20 PM 11/25/14 All times are local (Market data is delayed by at least 15 minutes).

bgc partners inc-cl a (BGCP) Snapshot

Open
$8.70
Previous Close
$8.68
Day High
$8.74
Day Low
$8.62
52 Week High
11/21/14 - $8.96
52 Week Low
11/27/13 - $5.65
Market Cap
1.9B
Average Volume 10 Days
820.9K
EPS TTM
$0.18
Shares Outstanding
184.7M
EX-Date
11/20/14
P/E TM
48.6x
Dividend
$0.48
Dividend Yield
5.52%
Current Stock Chart for BGC PARTNERS INC-CL A (BGCP)

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bgc partners inc-cl a (BGCP) Details

BGC Partners, Inc. operates as a brokerage company, primarily servicing the wholesale financial and commercial real estate markets. It operates through two segments, Financial Services and Real Estate Services. The Financial Services segment specializes in brokering a range of products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. This segment provides trade execution, broker-dealer, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions; and offers electronic marketplaces, including government bond markets, spot foreign exchange, foreign exchange options, corporate bonds, and credit default swaps in various financial markets. It also provides screen-based market solutions, which enable its clients to develop a marketplace, trade with their customers, issue debt, trade odd lots, access program trading interfaces, and access its network and intellectual property; software and technology infrastructure for the transactional and technology related elements; and certain technology services. This segment offers financial technology solutions, market data, and analytics related to select financial instruments and markets through BGC Trader and BGC Market Data brands. The Real Estate Services segment offers leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management services. The company primarily serves banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms in the United Kingdom; the United States; France; Asia; Australia; and other countries in the Americas, Europe, the Middle East, and Africa. BGC Partners, Inc. was founded in 1945 and is headquartered in New York, New York.

6,386 Employees
Last Reported Date: 02/28/14
Founded in 1945

bgc partners inc-cl a (BGCP) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.0M
President
Total Annual Compensation: $1.0M
Chief Financial Officer and Principal Account...
Total Annual Compensation: $469.4K
Chief Operating Officer
Total Annual Compensation: $586.8K
Executive Vice President, Secretary and Gener...
Total Annual Compensation: $1.0M
Compensation as of Fiscal Year 2013.

bgc partners inc-cl a (BGCP) Key Developments

BGC Partners Declares Quarterly Cash Dividend, Payable on December 9, 2014

On October 29, 2014, BGC Partners' Board of Directors declared a quarterly cash dividend of $0.12 per share payable on December 9, 2014 to Class A and Class B common stockholders of record as of November 24, 2014. The ex-dividend date will be November 20, 2014.

BGC Partners, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014

BGC Partners, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of $436,216,000 against $404,189,000 a year ago. Income from operations before income taxes was $29,937,000 against $42,663,000 a year ago. Net income available to common stockholders was $7,211,000 against $25,326,000 a year ago. Fully diluted earnings per share were $0.03 against $0.11 a year ago. Adjusted EBITDA was $107,739,000 against $78,728,000 a year ago. The increase in the company's revenues and dramatic growth of its pre-tax distributable earnings during the quarter was due largely to the rise in front office headcount and solid improvements in front office productivity. The productivity increase was driven by the substantial growth of BGC's fully electronic businesses, the addition of higher-performing brokers across both segments, strong commercial real estate industry dynamics, and higher global volumes in equity derivatives and FX. Post-tax distributable earnings were $56.0 million or $0.17 per diluted share against $31.0 million or $0.10 per diluted share a year ago. For the nine months, the company reported total revenues of $1,298,207,000 against $1,323,690,000 a year ago. Income from operations before income taxes was $56,098,000 against $264,611,000 a year ago. Net income available to common stockholders was $22,820,000 against $66,790,000 a year ago. Fully diluted earnings per share were $0.10 against $0.35 a year ago. For the fourth quarter of 2014, the company expects distributable earnings revenues to increase by between approximately 10% and 18% and to be between approximately $475 million and $510 million, compared with $432.9 million. Pre-tax distributable earnings to increase by between approximately 50% and 72% and to be in the range of $69 million to $79 million, versus $46.0 million. The company expects its effective tax rate for distributable earnings to be approximately 15%, compared with 14.5%.

BGC Seeks Acquisitions

BGC Partners, Inc. (NasdaqGS:BGCP) is seeking acquisitions. Howard Lutnick, Chairman and Chief Executive Officer of BGC said, “We anticipate using some of these funds to continue making accretive acquisitions across both real estate and financial services, an excellent example of which is an excellent example of such an acquisition is our tender offer for the shares of GFI Group.”

 

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Industry Analysis

BGCP

Industry Average

Valuation BGCP Industry Range
Price/Earnings 76.2x
Price/Sales 2.0x
Price/Book 4.4x
Price/Cash Flow 70.3x
TEV/Sales 0.8x
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