General Cable Corporation (NYSE:BGC) is a company that designs, develops, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, and specialty and communications markets worldwide, that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BGC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that General Cable could be a solid choice for investors.
Current Quarter Estimates for BGC
In the past 30 days, 2 estimates have gone higher for General Cable with no downward movement in the same time period. The trend has been pretty favorable too, with estimates increasing from 24 cents a share 30 days ago, to 32 cents today, a move of 33.3%.
Current Year Estimates for BGC
Meanwhile, General Cable’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, with no downward movement. The consensus estimate trend has also seen a boost for this time frame, increasing/narrowing from 75 cents per share 30 days ago to 87 cents per share today, an increase of 16.0%.
Bottom Line
The stock has also started to move higher lately, adding 28.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
GENL CABLE CORP (BGC): Free Stock Analysis Report
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