Italy's Prysmian to buy U.S. rival General Cable for €3bn


The stock appeared $23.05 above its 52-week highs and is up 5.57% for the last five trades. The company has Beta Value of 2.92 and ATR value of 1.12. Analysts have a mean recommendation of 2.80 on this stock.

The highest price BGC stock touched in the last 12 month was $29.75 and the lowest price it hit in the same period was $14.95. The institutional investor owned 179,290 shares of the industrial products company's stock after acquiring an additional 127,202 shares during the quarter.

BGC's relative volume was 27.90.

More notable recent General Cable Corporation (NYSE:BGC) news were published by: which released: "General Cable Corporation (NYSE:BGC) Skyrockets Up Over 35% Pre-Market" on December 04, 2017, also with their article: "30 Stocks Moving In Monday's Mid-Day Session" published on December 04, 2017, published: "Pre-Open Movers 12/04: (BGC) (EXAC) (ZYNE) Higher; (MZOR) (FNSR) (CVS) Lower ..." on December 04, 2017. However the company reported $0.05 earnings per share for the same quarter during previous year. For the week, the stock is performing 42.62%.

Profitability analysis helps a great deal in making investment decision.

Latest analyst recommendations could offer little help to investors. Currently, 8.96 million total shares are owned by the public and among those 6.84 million shares have been available to trade.

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General Cable (NYSE:BGC) last issued its earnings results on Wednesday, November 1st. For the current year the company's revenue estimates are $3.85 Billion compared to low analyst estimates of $3.85 Billion and high estimates of $3.85 Billion according to 1 number of analysts. The stock has advanced 87.50% to a low over the previous one year and showed declining move -4.03% to a high over the same period. The industrial products company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.17 by $0.08.

EPS Growth this year is 24.1 percent. With almost 140 years of experience, sales of over €7.5 billion in 2016, 21,000 employees across 50 countries and 82 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how.

Quarterly Revenue Growth on year-over-year basis stands at 7.5 percent. Return on Equity (ROE) stands at -126.8% and Return on Investment (ROI) of -1.3 percent. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock's price, but also to a gradual increase over time. The company maintains price to book ratio of 9.03 industry average at 3.71.

Italian cable maker Prysmian is looking at three more M&A targets, its CEO Valerio Battista said on Tuesday, the day after announcing a $3 billion deal to buy US rival General Cable.

The transaction, which has been unanimously approved by each company's Board of Directors and recommended to its shareholders by General Cable's Board of Directors, is expected to close by the third quarter of 2018, subject to the approval of General Cable's shareholders representing at least a majority of the outstanding shares, regulatory approvals, and other customary conditions.