BGC Group, Inc. BGC has reaffirmed its outlook for the fourth quarter and full year 2024. The outlook includes guidance for revenues and pre-tax adjusted earnings.
BGC Group Outlook Details
Revenues: BGC Group’s total revenues for the fourth quarter of 2024 are expected to be in the range of $545-$595 million. This signifies a year-over-year increase from the prior-year quarter’s $516.8 million.
For full-year 2024, the company anticipates the metric to be in the range of $2,235-$2,285 million, an increase from $2,025.4 million in 2023.
Further, the company projected the acquisitions of OTC Global Holdings and Sage Energy Partners to add more than $450 million in 2025 revenues.
Pre-Tax Adjusted Earnings: BGC’s pre-tax adjusted earnings are anticipated to be in the range of $122–$138 million, implying a rise from the prior-year quarter’s $110.8 million.
Also, pre-tax adjusted earnings are expected to be in the range of $510–$526 million for 2024. This indicates an increase from $442.9 million in 2023.
BGC’s Zacks Rank & Price Performance
BGC shares have risen 34%, underperforming the industry’s 38.9% growth over the past year.
Image Source: Zacks Investment Research
Currently, BGC Group carries a Zacks Rank #3 (Hold).
BGC Group's Peer Stocks Worth Considering
Some better-ranked peer stocks worth a look are Robinhood Markets, Inc. HOOD and Interactive Brokers Group, Inc. IBKR.
The Zacks Consensus Estimates for HOOD’s 2024 earnings have been revised 8.1% upward in the past month. The company’s shares have gained 62.8% in the past six months. Currently, HOOD sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimates for IBKR’s 2024 earnings have remained unchanged in the past month. The company’s shares have risen 40.7% in the past six months. At present, IBKR carries a Zacks Rank #2 (Buy).
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BGC Group, Inc. (BGC) : Free Stock Analysis Report
Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
