BCE Inc. (NYSE:BCE) has received a consensus rating of “Hold” from the fourteen analysts that are presently covering the firm. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $57.30.
Several research firms have recently weighed in on BCE. Zacks Investment Research downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Citigroup Inc. increased their price target on BCE from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, July 19th. Desjardins reaffirmed a “hold” rating and set a $64.00 price target on shares of BCE in a report on Wednesday, August 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $65.00 price target on shares of BCE in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $66.00 price target (up from $62.00) on shares of BCE in a report on Sunday, August 7th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Societe Generale purchased a new position in shares of BCE during the second quarter worth $118,000. First Interstate Bank boosted its position in shares of BCE by 62.9% in the second quarter. First Interstate Bank now owns 2,850 shares of the company’s stock worth $135,000 after buying an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC purchased a new position in shares of BCE during the second quarter worth $170,000. Howland Capital Management LLC purchased a new position in shares of BCE during the second quarter worth $204,000. Finally, Park Avenue Securities LLC purchased a new position in shares of BCE during the second quarter worth $204,000. Hedge funds and other institutional investors own 44.50% of the company’s stock.
Shares of BCE (NYSE:BCE) traded up 1.01% during midday trading on Monday, reaching $45.22. 264,930 shares of the company traded hands. BCE has a 1-year low of $35.96 and a 1-year high of $49.03. The stock has a market capitalization of $39.32 billion, a P/E ratio of 18.76 and a beta of 0.40. The stock’s 50-day moving average is $46.60 and its 200-day moving average is $46.73.
BCE (NYSE:BCE) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.03. The business earned $5.34 billion during the quarter, compared to the consensus estimate of $4.10 billion. BCE had a return on equity of 22.89% and a net margin of 13.02%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. Equities analysts predict that BCE will post $2.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Tuesday, September 13th. BCE’s payout ratio is 88.14%.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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