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General Cable (BGC) Downgraded At DA Davidson

Stocks in this article: BGC

NEW YORK (TheStreet) -- General Cable Corp.  (BGC) was downgraded to neutral from buy at Da Davidson with a price target of $28.00 from $34.00.

Estimates were also cut given the company's new guidance.

Shares of General Cable closed Monday at $25.61. 

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TheStreet Ratings team rates GENERAL CABLE CORP/DE as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate GENERAL CABLE CORP/DE (BGC) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Electrical Equipment industry. The net income increased by 187.9% when compared to the same quarter one year prior, rising from -$15.70 million to $13.80 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 5.7%. Since the same quarter one year prior, revenues slightly increased by 2.4%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • GENERAL CABLE CORP/DE reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, GENERAL CABLE CORP/DE swung to a loss, reporting -$0.38 versus $0.06 in the prior year. This year, the market expects an improvement in earnings ($2.12 versus -$0.38).
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. Compared to other companies in the Electrical Equipment industry and the overall market, GENERAL CABLE CORP/DE's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has significantly decreased to $61.30 million or 67.83% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • You can view the full analysis from the report here: BGC Ratings Report
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