General Cable Corp. (BGC) saw a big move last session, as the company’s shares fell by over 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for BGC, as the stock is now down 13.3% since Apr 3.
This slump shouldn’t be too much of a surprise to investors, as General Cable has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
BGC currently has a Zacks Rank #5 (Strong Sell).
Investors interested in the industrial products sector may consider better-ranked stocks like Belden Inc. (BDC), Caterpillar Inc. (CAT) and Crown Holdings Inc. (CCK). All these stocks carry a Zacks Rank #1 (Strong Buy).
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