General Cable Corporation (BGC) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.15. Analysts had a consensus of $0.04. The company posted revenue of $974.00 million in the period, compared to analysts expectations of $851.33 million. The company’s revenue was down -16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.78 EPS.
General Cable Corporation opened for trading at $13.5 and hit $14.14 on the upside on Friday, eventually ending the session at $14.06, with a gain of 3.84% or 0.52 points. The heightened volatility saw the trading volume jump to 4,99,137 shares. Company has a market cap of $690 M.
In a different news, on Mar 1, 2016, John E Iii Welsh (director) purchased 10,000 shares at $8.40 per share price. According to the SEC, on Apr 8, 2015, Gregory J. Lampert (EVP, Pres. & CEO, Americas) sold 4,984 shares at $17.61 per share price.
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. The Company additionally engages in the design integration and installation on a turnkey basis for products such as high and extra-high voltage terrestrial and submarine systems. The Company’s segments develops designs manufactures markets and distributes copper aluminum and fiber optic wire and cable products for use in the energy industrial construction specialty and communications markets and electric utility electrical infrastructure construction and communications industries. It offers five categories of products such as electric utility electrical infrastructure communications construction and rod mill.