Live nieuws • May 16
BGC Group Delivers Record Q1 Revenue and Expands Credit as Cautious Q2 Outlook Looms BGC Group reported Q1 2026 revenue of about US$955.5 million, up 44% year over year, with adjusted EPS of US$0.41 that matched analyst expectations and Q2 revenue guidance of US$815 million that came in slightly below estimates.
The company highlighted strong organic growth across asset classes; energy, commodities and shipping revenues that more than doubled; a record 41% market share for its FMX US Treasury platform; and an increased annualized cost savings target of US$35 million while maintaining a quarterly dividend of US$0.02 per share.
BGC secured a new unsecured senior revolving credit facility of US$700 million, expandable to US$900 million and maturing in 2030, and was cited by Bank of America as its top AI stock in capital markets given its energy brokerage scale and proprietary trading data.
The mix of robust recent operating results, expanded cost savings targets and extended credit capacity points to a company putting more financial and operational structure behind its market share gains and technology focus.
At the same time, the cautious Q2 guidance, higher minimum net worth and capital requirements under the new credit agreement and recent insider selling give you reasons to pay close attention to execution, capital deployment and any changes in risk appetite. Declared Dividend • May 15
First quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 27th May 2026 Payment date: 10th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 22%. Cash payout ratio: 11%. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: US$0.18 (vs US$0.11 in 1Q 2025) First quarter 2026 results: EPS: US$0.18 (up from US$0.11 in 1Q 2025). Revenue: US$923.0m (up 44% from 1Q 2025). Net income: US$84.1m (up 59% from 1Q 2025). Profit margin: 9.1% (up from 8.3% in 1Q 2025). Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Aankondiging • Apr 09
BGC Group, Inc. to Report Q1, 2026 Results on May 07, 2026 BGC Group, Inc. announced that they will report Q1, 2026 results at 8:00 AM, US Eastern Standard Time on May 07, 2026 Aankondiging • Mar 27
BGC Group, Inc. Updates Earnings Guidance for the First Quarter Ending March 31, 2026 BGC Group, Inc. updated earnings guidance for the first quarter ending March 31, 2026. For the quarter, the company expects to be slightly above the high end of its previously stated outlook range for revenue. The Company’s outlook was contained in BGC’s financial results press release issued on February 12, 2026. Declared Dividend • Feb 17
Fourth quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 4th March 2026 Payment date: 18th March 2026 Dividend yield will be 0.9%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 13
Full year 2025 earnings released: EPS: US$0.33 (vs US$0.26 in FY 2024) Full year 2025 results: EPS: US$0.33 (up from US$0.26 in FY 2024). Revenue: US$2.82b (up 30% from FY 2024). Net income: US$155.0m (up 28% from FY 2024). Profit margin: 5.5% (down from 5.6% in FY 2024). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 27
BGC Group, Inc. Authorized as an FCA-Registered Benchmark Administrator BGC Group, Inc. announced that BGC Brokers L.P. is now authorized as a U.K. registered benchmark administrator licensee with the U.K. Financial Conduct Authority (FCA) under the U.K. Benchmarks Regulation. BGC’s approved benchmark offering includes swaps pricing in EUR IRS, GBP IRS, & XCCY swaps, and EU and U.K. Inflation swaps. This enhancement provides clients with an FCA regulated reference page, improved data quality, and a strong alternative benchmark solution for their issuance activities. This wider range of approved products strengthens the company's value proposition and ability to support issuance workflows. Aankondiging • Jan 12
BGC Group, Inc. to Report Q4, 2025 Results on Feb 12, 2026 BGC Group, Inc. announced that they will report Q4, 2025 results at 8:00 AM, US Eastern Standard Time on Feb 12, 2026 Aankondiging • Jan 07
smartTrade Technologies SAS acquired kACE Financial from BGC Group, Inc. (NasdaqGS:BGC). SmartTrade Technologies SAS entered into a definitive agreement to acquire kACE Financial from BGC Group, Inc. (NasdaqGS:BGC) for approximately $120 million on December 11, 2025. Under the terms of the deal, kACE is valued up to $119 million, subject to limited post-closing adjustments. This includes an initial payment of $80 million, with up to an additional $39 million in contingent cash consideration based on defined performance metrics some of which is expected to be received in 2026.
The transaction is expected to close by end of year 2025, subject to customary closing conditions.
SmartTrade Technologies SAS completed the acquisition of kACE Financial from BGC Group, Inc. (NasdaqGS:BGC) on January 6, 2026. New Risk • Nov 20
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$286k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (78% net debt to equity). Significant insider selling over the past 3 months (US$286k sold). Declared Dividend • Nov 09
Third quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 26th November 2025 Payment date: 10th December 2025 Dividend yield will be 0.9%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 37% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Nov 07
BGC Group, Inc. announces Quarterly dividend, payable on December 10, 2025 BGC Group, Inc. announced Quarterly dividend of USD 0.0200 per share payable on December 10, 2025, ex-date on November 26, 2025 and record date on November 26, 2025. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: US$0.059 (vs US$0.03 in 3Q 2024) Third quarter 2025 results: EPS: US$0.059 (up from US$0.03 in 3Q 2024). Revenue: US$703.0m (up 31% from 3Q 2024). Net income: US$27.9m (up 97% from 3Q 2024). Profit margin: 4.0% (up from 2.6% in 3Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 31% per year. Aankondiging • Oct 07
BGC Group, Inc. to Report Q3, 2025 Results on Nov 06, 2025 BGC Group, Inc. announced that they will report Q3, 2025 results at 8:00 AM, US Eastern Standard Time on Nov 06, 2025 Aankondiging • Oct 06
BGC Group, Inc. (NasdaqGS:BGC) acquired Macro Hive Limited. BGC Group, Inc. (NasdaqGS:BGC) acquired Macro Hive Limited on October 6, 2025.
BGC Group, Inc. (NasdaqGS:BGC) completed the acquisition of Macro Hive Limited on October 6, 2025. Aankondiging • Oct 01
BGC Group, Inc., Annual General Meeting, Nov 12, 2025 BGC Group, Inc., Annual General Meeting, Nov 12, 2025. Aankondiging • Sep 18
BGC Group, Inc. Launches Opti Match First Fully Electronic Platform for U.S. Dollar Swaps BGC Group, Inc. announced the launch of Opti Match, the company's new fully electronic trading platform for U.S. dollar swaps offered through BGC Derivatives Markets, L.P. Institutional investors can access Opti Match either directly if they are SEF Participants or through their BGC or GFI broker. The Opti Match is designed to streamline execution, enhance transparency, and deliver superior liquidity across the U.S. dollar swaps landscape and will initially support a comprehensive suite of products, including: SOFR Flies & Spreads; SOFR Feds Basis Term & FOMC; FOMC Rates SOFR & OIS; CME/LCH Outrights & Switches. New Risk • Aug 24
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$464k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (84% net debt to equity). Significant insider selling over the past 3 months (US$464k sold). Declared Dividend • Aug 04
Second quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 20th August 2025 Payment date: 3rd September 2025 Dividend yield will be 0.8%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 67% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 01
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: US$0.12 (up from US$0.076 in 2Q 2024). Revenue: US$750.2m (up 42% from 2Q 2024). Net income: US$57.5m (up 60% from 2Q 2024). Profit margin: 7.7% (up from 6.8% in 2Q 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 65%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jul 03
BGC Group, Inc. to Report Q2, 2025 Results on Jul 31, 2025 BGC Group, Inc. announced that they will report Q2, 2025 results at 8:00 AM, US Eastern Standard Time on Jul 31, 2025 Aankondiging • Jul 01
BGC Group, Inc. Updates Earnings Guidance for the Second Quarter Ended June 30, 2025 BGC Group, Inc. updated earnings guidance for the second quarter ended June 30, 2025. For the period, the company expects to be slightly above its previously stated outlook ranges for revenue. Declared Dividend • May 12
First quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 27th May 2025 Payment date: 10th June 2025 Dividend yield will be 0.9%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: US$0.12 (vs US$0.099 in 1Q 2024) First quarter 2025 results: EPS: US$0.12 (up from US$0.099 in 1Q 2024). Revenue: US$639.6m (up 14% from 1Q 2024). Net income: US$55.2m (up 19% from 1Q 2024). Profit margin: 8.6% (up from 8.3% in 1Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Aankondiging • May 07
BGC Group, Inc. Declares Quarterly Dividend BGC Group, Inc. declared quarterly dividend of 2 cents per share. Aankondiging • Apr 08
BGC Group, Inc. to Report Q1, 2025 Results on May 07, 2025 BGC Group, Inc. announced that they will report Q1, 2025 results at 8:00 AM, Eastern Standard Time on May 07, 2025 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$7.79, the stock trades at a trailing P/E ratio of 31x. Average forward P/E is 13x in the Capital Markets industry in the US. Total returns to shareholders of 103% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$4.27 per share. Aankondiging • Apr 02
BGC Group, Inc. (NasdaqGS:BGC) completed the acquisition of OTC Global Holdings, LP for approximately $330 million. BGC Group, Inc. (NasdaqGS:BGC) entered into a definitive agreement to acquire OTC Global Holdings, LP on October 22, 2024. Under the terms of the agreement, BGC expects to acquire OTC in a substantially all-cash transaction, which is subject to customary closing conditions, including applicable regulatory approvals. For the period ending December 31, 2024, OTC Global Holdings, LP reported total revenue of $400 million. OTC team will join BGC. The transaction is expected to close by the end of the first quarter of 2025. The acquisition of OTC Global are expected to be immediately accretive.
Jefferies LLC acted as financial advisor for OTC Global Holdings, LP. Bryan Cave Leighton Paisner LLP acted as legal advisor to BGC Group, Inc.
BGC Group, Inc. (NasdaqGS:BGC) completed the acquisition of OTC Global Holdings, LP for approximately $330 million on April 1, 2025. Price Target Changed • Feb 25
Price target increased by 22% to US$14.00 Up from US$11.50, the current price target is an average from 2 analysts. New target price is 47% above last closing price of US$9.50. Stock is up 36% over the past year. The company posted earnings per share of US$0.26 last year. Declared Dividend • Feb 20
Fourth quarter dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 6th March 2025 Payment date: 20th March 2025 Dividend yield will be 0.9%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Full year 2024 earnings released: EPS: US$0.27 (vs US$0.08 in FY 2023) Full year 2024 results: EPS: US$0.27 (up from US$0.08 in FY 2023). Revenue: US$2.17b (up 12% from FY 2023). Net income: US$127.0m (up 273% from FY 2023). Profit margin: 5.8% (up from 1.7% in FY 2023). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Aankondiging • Jan 22
BGC Group, Inc. to Report Q4, 2024 Results on Feb 14, 2025 BGC Group, Inc. announced that they will report Q4, 2024 results on Feb 14, 2025 Aankondiging • Jan 01
BGC Group Reaffirms Earnings Guidance for the Fourth Quarter of 2024 BGC reaffirmed its previously stated outlook ranges for revenue for the fourth quarter of 2024. The Company's outlook was contained in BGC's financial results release issued on October 31, 2024. Aankondiging • Dec 05
Capitolis Inc. acquired Capitalab from BGC Group, Inc. (NasdaqGS:BGC) for $46 million. Capitolis Inc. acquired Capitalab from BGC Group, Inc. (NasdaqGS:BGC) for $46 million on December 3, 2024. A cash consideration of $46 million will be paid by Capitolis Inc. Gavin Jackson the founder and Chief executive officer of Capitalab will become part of the Capitolis executive team.
Capitolis Inc. completed the acquisition of Capitalab from BGC Group, Inc. (NasdaqGS:BGC) for $46 million on December 3, 2024. Aankondiging • Dec 03
BGC Group, Inc. Appoints Mike Whitaker as Global Chief Information Officer and Member of Executive Committee BGC Group, Inc. announced Mike Whitaker has joined as Global Chief Information Officer and a member of its Executive Committee. In this newly created role, Mr. Whitaker will be responsible for developing and implementing a cohesive technology strategy across the company, driving innovation and efficiencies to deliver growth. Mr. Whitaker brings more than 40 years' experience in financial services and technology. He joins BGC from Citi, where he spent 15 years in senior technology management roles and rose to become the firm's Head of Operations & Technology and a member of the Executive Management Team. Prior to joining Citi, Mr. Whitaker worked at Deutsche Bank and Barclays Capital, where his responsibilities included CIO for Global Fixed Income, Global Equities & Prime Finance, eCommerce, and Algorithmic trading functions. He holds a Master of Science degree in financial markets and derivatives from City, University of London. New Risk • Nov 12
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$11.34, the stock trades at a trailing P/E ratio of 47.5x. Average forward P/E is 17x in the Capital Markets industry in the US. Total returns to shareholders of 137% over the past three years. Declared Dividend • Nov 04
Third quarter dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 21st November 2024 Payment date: 4th December 2024 Dividend yield will be 0.7%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.03 (vs US$0.034 in 3Q 2023) Third quarter 2024 results: EPS: US$0.03 (down from US$0.034 in 3Q 2023). Revenue: US$536.0m (up 16% from 3Q 2023). Net income: US$14.7m (down 7.7% from 3Q 2023). Profit margin: 2.8% (down from 3.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Aankondiging • Oct 07
BGC Group, Inc. to Report Q3, 2024 Results on Oct 31, 2024 BGC Group, Inc. announced that they will report Q3, 2024 results at 8:00 AM, US Eastern Standard Time on Oct 31, 2024 Aankondiging • Oct 01
BGC Group, Inc. Updates Revenue Outlook for the Quarter Ended September 30, 2024 BGC Group, Inc. updated its revenue outlook for the quarter ended September 30, 2024. The company expects to be around the high-end of its previously stated outlook ranges for revenue. Aankondiging • Sep 13
BGC Group, Inc. FMX Futures Exchange to Launch on September 23, 2024 BGC Group, Inc. announced they will launch the highly anticipated FMX Futures Exchange, an exchange for U.S. interest rate futures, the most widely traded futures contracts in the world, on September 23, 2024 at 9:00 p.m. ET., which represents the beginning of the trade date Tuesday, September 24, 2024. FMX will initially launch with SOFR futures and will add U.S. treasury futures in the first quarter of 2025. FMX expects to provide clients with significant capital savings through its clearing partnership with LCH Limited, a fully approved CFTC Derivatives Clearing Organization and one of the largest clearers of interest rate swaps in the world. LCH has $225 billion of interest rate swap collateral securing its interest rate swaps, against which LCH members expect to cross margin eligible U.S. interest rate futures traded on FMX Futures Exchange. FMX Futures Exchange is a part of FMX Holdings LLC, which includes the world's fastest growing cash U.S. Treasuries marketplace and rapidly growing spot Foreign Exchange platform. Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, J.P. Morgan, Jump Trading Group, Morgan Stanley, Tower Research Capital, and Wells Fargo are equity owners of FMX Holdings LLC. Declared Dividend • Aug 02
Second quarter dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 19th August 2024 Payment date: 3rd September 2024 Dividend yield will be 0.7%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: US$0.076 (vs US$0.05 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.076 (up from US$0.05 loss in 2Q 2023). Revenue: US$529.2m (up 12% from 2Q 2023). Net income: US$36.1m (up US$55.8m from 2Q 2023). Profit margin: 6.8% (up from net loss in 2Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Aankondiging • Jul 10
BGC Group, Inc. to Report Q2, 2024 Results on Jul 30, 2024 BGC Group, Inc. announced that they will report Q2, 2024 results at 8:00 AM, US Eastern Standard Time on Jul 30, 2024 Aankondiging • Jul 01
BGC Group, Inc., Annual General Meeting, Sep 16, 2024 BGC Group, Inc., Annual General Meeting, Sep 16, 2024. Aankondiging • Jun 28
BGC Group, Inc. Reaffirms Earnings Guidance for the Second Quarter of 2024 BGC Group, Inc. reaffirmed earnings guidance for the second quarter of 2024. BGC reaffirmed its previously stated outlook ranges for revenue for the second quarter of 2024. The Company's outlook was contained in BGC's financial results press release issued on April 30, 2024,. New Risk • May 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 48% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.6% per year over the past 5 years. Minor Risks High level of debt (63% net debt to equity). Large one-off items impacting financial results. Shareholders have been diluted in the past year (8.7% increase in shares outstanding). Price Target Changed • May 06
Price target increased by 18% to US$10.00 Up from US$8.50, the current price target is provided by 1 analyst. New target price is 14% above last closing price of US$8.75. Stock is up 111% over the past year. The company posted earnings per share of US$0.08 last year. Declared Dividend • May 05
First quarter dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 20th May 2024 Payment date: 4th June 2024 Dividend yield will be 0.6%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 50%. Cash payout ratio: 6%. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$0.10 (vs US$0.051 in 1Q 2023) First quarter 2024 results: EPS: US$0.10 (up from US$0.051 in 1Q 2023). Revenue: US$558.5m (up 8.0% from 1Q 2023). Net income: US$49.2m (up 159% from 1Q 2023). Profit margin: 8.8% (up from 3.7% in 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Price Target Changed • Apr 12
Price target increased by 13% to US$9.00 Up from US$8.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of US$7.75. Stock is up 77% over the past year. The company posted earnings per share of US$0.08 last year. Aankondiging • Apr 04
BGC Group, Inc. to Report Q1, 2024 Results on Apr 30, 2024 BGC Group, Inc. announced that they will report Q1, 2024 results Pre-Market on Apr 30, 2024 Upcoming Dividend • Feb 26
Upcoming dividend of US$0.01 per share Eligible shareholders must have bought the stock before 04 March 2024. Payment date: 19 March 2024. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.3%). Declared Dividend • Feb 16
Fourth quarter dividend of US$0.01 announced Dividend of US$0.01 is the same as last year. Ex-date: 4th March 2024 Payment date: 19th March 2024 Dividend yield will be 0.5%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 50%. Cash payout ratio: 8%. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: US$0.08 (vs US$0.13 in FY 2022) Full year 2023 results: EPS: US$0.08 (down from US$0.13 in FY 2022). Revenue: US$1.95b (up 12% from FY 2022). Net income: US$34.1m (down 30% from FY 2022). Profit margin: 1.7% (down from 2.8% in FY 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Price Target Changed • Feb 16
Price target increased by 13% to US$8.50 Up from US$7.50, the current price target is provided by 1 analyst. New target price is 18% above last closing price of US$7.20. Stock is up 62% over the past year. The company posted earnings per share of US$0.08 last year. Aankondiging • Jan 23
BGC Group, Inc. Announces Commodity Futures Trading Commission Approval for FMX Futures Exchange BGC Group, Inc. announced that its FMX Futures Exchange received Commodity Futures Trading Commission (CFTC) approval to operate an exchange for U.S.Treasury and SOFR futures, the most widely traded futures contracts in the world, for trading on FMX. FMX's clearing agreement with LCH SwapClear, one of the largest holders of interest rate collateral in the world, uniquely positions FMX to compete and reshape the U.S. interest rate market. Aankondiging • Jan 09
BGC Group, Inc. to Report Q4, 2023 Results on Feb 14, 2024 BGC Group, Inc. announced that they will report Q4, 2023 results at 8:00 AM, US Eastern Standard Time on Feb 14, 2024 Aankondiging • Dec 30
BGC Group, Inc. Updates Earnings Guidance for the Fourth Quarter Ending December 31, 2023 BGC Group, Inc. updated earnings guidance for the fourth quarter ending December 31, 2023. for the quarter, the company expects to be around the high-end of its previously stated outlook ranges for revenue. Upcoming Dividend • Nov 09
Upcoming dividend of US$0.01 per share at 0.6% yield Eligible shareholders must have bought the stock before 16 November 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (5.1%). Lower than average of industry peers (2.8%). New Risk • Nov 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Shareholders have been diluted in the past year (16% increase in shares outstanding). Reported Earnings • Oct 30
Third quarter 2023 earnings released: EPS: US$0.036 (vs US$0.016 in 3Q 2022) Third quarter 2023 results: EPS: US$0.036 (up from US$0.016 in 3Q 2022). Revenue: US$461.9m (up 15% from 3Q 2022). Net income: US$17.0m (up 196% from 3Q 2022). Profit margin: 3.7% (up from 1.4% in 3Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Aankondiging • Oct 06
BGC Group, Inc. to Report Q3, 2023 Results on Oct 30, 2023 BGC Group, Inc. announced that they will report Q3, 2023 results Pre-Market on Oct 30, 2023 Aankondiging • Sep 30
BGC Group, Inc., Annual General Meeting, Nov 14, 2023 BGC Group, Inc., Annual General Meeting, Nov 14, 2023, at 10:00 US Eastern Standard Time. Agenda: To elect five directors to hold office until the next Annual Meeting and until their successors are duly elected and qualified; to hold a vote on the ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023; to hold an advisory vote on executive compensation; and to transact such other business as may properly come before the Annual Meeting and any adjournment or postponement thereof. Upcoming Dividend • Aug 14
Upcoming dividend of US$0.01 per share at 0.8% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 05 September 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.8%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.7%). New Risk • Aug 03
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Shareholders have been diluted in the past year (17% increase in shares outstanding). Reported Earnings • Aug 03
Second quarter 2023 earnings released: US$0.05 loss per share (vs US$0.039 profit in 2Q 2022) Second quarter 2023 results: US$0.05 loss per share (down from US$0.039 profit in 2Q 2022). Revenue: US$473.2m (up 12% from 2Q 2022). Net loss: US$19.7m (down 234% from profit in 2Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Aug 01
BGC Group, Inc. Announces Executive Changes BGC Group, Inc. announced the addition of a Weather Derivatives Team with the hire of Nicholas and Eric Ernst. Nicholas joins the firm as Managing Director, BGC Weather Derivatives while Eric joins as Weather Broker. Nicholas Ernst brings with him over 20 years of experience in the weather derivatives and risk transfer space. Prior to joining BGC, he served as Managing Director, Weather Markets at ICAP. Additionally, Nicholas spent time in similar roles at OTC Global and Evolutions Markets. Before joining BGC, Eric Ernst served as a Weather Broker at ICAP. Prior to that, Eric held various roles at Choice Energy and spent three years in the renewable energy sector. 