BGCP To Pay Stable Dividend Going Forward
Analysts at Keefe Bruyette maintain their "outperform" rating on BGC Partners Inc (NASDAQ: BGCP), while raising their estimates for the company. The target price for BGCP is set to $8.
Keefe Bruyette says, “BGCP beat our and consensus estimates on lower compensation ratio, which management said should remain below recent historical levels going forward.”
“Management also announced it would be paying a stable dividend going forward, and $0.14 a share for the rest of the year. We think investors will like the increased stability from this new dividend policy,” the analysts add.
Keefe Bruyette has raised its EPS estimates for 2010 and 2011 from $0.61 to $0.65 and from $0.68 to $0.79, respectively.
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