Northern Kentucky's General Cable Corp. agrees to be acquired in $3B deal

General Cable

Northern Kentucky's General Cable Corp. agrees to be acquired in $3B deal

Currently, the stock has a 1 Year Price Target of $26. Earnings surprises can have a huge impact on a company's stock price.

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 USA rival General Cable. At present, 0 analysts call it Sell, while 1 think it is Hold. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.17 by $0.08.

Prysmian Group is to acquire U.S. outfit General Cable Corp for a cash purchase of $30 per share. The company's market cap is $1.47 Billion, and the average volume is $1.03 Million. Where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock's price movement. General Cable's quarterly revenue was up 7.5% compared to the same quarter previous year. Massachusetts-based Martingale Asset Limited Partnership has invested 0.02% in General Cable Corporation (NYSE:BGC). According to the Analysts, the Low Earnings estimate for the current quarter is $0.24, while the High earnings estimate is $0.24.Comparatively, EPS for the same quarter previous year was $0.27. The average analysts gave this company a mean recommendation of 2.50. Now we look at the Moving Averages, the 200-day is 62.53%, the 50-day is 41.91% and the 20-day is 42.72%. The return on equity ratio or ROE stands at -126.8 percent while most common profitability ratio return on investment (ROI) was -1.3 percent.

It expects the deal to lift underlying earnings per share by 10-12 percent within the first year after it is finalised.

Based in Highland Heights, KY, General Cable has 10,000 employees in 16 countries and relocated to Cincinnati in the 1980s when Cincinnati financier Carl Lindner Jr. bought the company as part of a larger acquisition of Penn Central Corp.

Complementary Footprints

In the past 5 years, the stock showed growth of -24.02% per annum. Its book value per share for the most recent quarter is $2.4 while its price to book ratio for the same period is 9.08, as for as the company's cash per share for the most recent quarter is $1.45, however its price to cash per share ratio for the same period is 15.05.

The company reported its EPS on 9/29/2017. The percentage of shares being held by the company management was 4.8% while institutional stake was 2.7%.

The Stock had a 3 Consensus Analyst Recommendation 30 Days Ago, whereas 60 days ago and 90 days ago the analyst recommendations were 3 and 3 respectively.

According to General Cable Corporation's latest 13F filing with the US Securities and Exchange Commission (SEC), institutional ownership is at 102.73%.

Additionally on 5/11/15 Stifel Nicolaus "Maintained" General Cable Corp (NYSE:BGC) to Buy setting price target at $21 and on 4/13/15 DA Davidson "Maintained" the stock to Neutral at $18.

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