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Last $9.46 USD
Change Today -0.01 / -0.11%
Volume 653.4K
As of 8:10 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

bgc partners inc-cl a (BGCP) Key Developments

BGC Partners, Inc. Declares Quarterly Cash Dividend, Payable on May 29, 2015; Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015

BGC Partners, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share payable on May 29, 2015 to Class A and Class B common stockholders of record as of May 15, 2015. The ex-dividend date will be May 13, 2015. The company announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's total revenues were $547.6 million compared with $444.8 million a year ago. Income from operations before income taxes was $36.3 million compared with $11.2 million a year ago. Net income available to common stockholders was $14.1 million or $0.06 per basic and diluted share compared with $8.0 million or $0.04 per basic and diluted share a year ago. Adjusted EBITDA was $117.1 million compared with $74.6 million a year ago. Revenues for distributable earnings were $563.9 million compared with $445.9 million a year ago. Post-tax distributable earnings were $62.1 million compared with $47.2 million a year ago. Pre-tax distributable earnings before non-controlling interest in subsidiaries and taxes was $75.2 million compared with $56.2 million a year ago. Pre-tax distributable earnings per share were $0.22 compared with $0.17 a year ago. Post-tax distributable earnings per share were $0.18 compared with $0.15 a year ago. For the second quarter of 2015, the company expects distributable earnings revenues to increase by between approximately 51% and 58% and to be between approximately $650 million and $680 million, compared with $430.3 million. The company anticipates pre-tax distributable earnings to increase by between approximately 32% and 51% and to be in the range of $70 million to $80 million, versus $53.0 million. The company expects its effective tax rate for distributable earnings to remain approximately 15%. In the second quarter of 2015, the pre-tax interest expense associated with the Convertible Senior Notes is expected to be $3.5 million while the post-tax interest expense is expected to be $3.0 million, all based on distributable earnings.

BGC Partners, Inc., GFI Group Inc., Q1 2015 Earnings Call, Apr 29, 2015

BGC Partners, Inc., GFI Group Inc., Q1 2015 Earnings Call, Apr 29, 2015

GFI Group Inc. to Report Q1, 2015 Results on Apr 29, 2015

GFI Group Inc. announced that they will report Q1, 2015 results at 10:00 AM, US Eastern Standard Time on Apr 29, 2015

BGC Partners, Inc. Revises Consolidated Earnings Guidance for the First Quarter Ended March 31, 2015

BGC Partners, Inc. revised consolidated earnings guidance for the first quarter ended March 31, 2015. Excluding the results of GFI Group Inc. (GFI), the company expects its quarterly revenues for distributable earnings to be towards the low end of the range of its previously stated guidance, and its quarterly pre-tax distributable earnings to be around the mid-point. The company had expected distributable earnings revenues to increase by between approximately 10% and 17% and to be between approximately $490 million and $520 million, compared with $445.9 million. The company had anticipated its pre-tax distributable earnings to increase by between approximately 21% and 42% and to be in the range of $68 million to $80 million compared to $56.2 million. The company had expected its effective tax rate for distributable earnings to remain unchanged at approximately 15%.

BGC Partners Announces Appointment of Michael Turek as Head of its New York Base Metals Desk

BGC Partners, Inc. announced the appointment of Michael Turek as Head of BGC's Base Metals desk in New York. This appointment complements the Base Metals team in London, which is co-headed by Bradley Marchant and Steven Bingley, and underscores BGC's commitment to expanding its commodities business. Mr. Turek joins BGC with extensive experience in commodities trading. Most recently, he was a Senior Director at Newedge Group. From 2002 until 2010 Mr. Turek held the position of Senior Vice President and Metals Sales Trader at Prudential Financial. Prior to that, Mr. Turek was Head of the Base Metals desk, North America, at Deutsche Bank.

 

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BGCP

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Price/Earnings 100.0x
Price/Sales 1.1x
Price/Book 5.3x
Price/Cash Flow 229.0x
TEV/Sales 0.1x
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