BCE (NYSE:BCE) Stock Rating Reaffirmed by BMO Capital Markets

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BMO Capital Markets reaffirmed their average rating on shares of BCE (NYSE:BCE) (TSE:BCE) in a research report report published on Friday, AnalystRatings.com reports. They currently have a $63.00 target price on the utilities provider’s stock.

Several other research analysts have also commented on the company. Barclays reaffirmed an average rating and set a $66.00 price target on shares of BCE in a research report on Sunday, May 5th. TD Securities raised BCE from a hold rating to a buy rating and set a $44.38 price target on the stock in a research report on Tuesday, June 18th. Desjardins lowered BCE from a buy rating to a hold rating in a research report on Friday, May 3rd. Zacks Investment Research raised BCE from a hold rating to a buy rating and set a $48.00 price target on the stock in a research report on Tuesday, July 30th. Finally, Citigroup lowered BCE from a buy rating to a neutral rating in a research report on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. BCE currently has an average rating of Hold and an average price target of $54.90.

BCE stock opened at $45.98 on Friday. The stock’s 50 day simple moving average is $45.74. The stock has a market capitalization of $41.29 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 4.91 and a beta of 0.41. BCE has a fifty-two week low of $38.75 and a fifty-two week high of $47.14. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.51 and a current ratio of 0.55.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.90 billion. BCE had a return on equity of 18.96% and a net margin of 12.51%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. Research analysts predict that BCE will post 2.67 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $0.601 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.23%. This is a positive change from BCE’s previous quarterly dividend of $0.59. BCE’s dividend payout ratio (DPR) is 87.45%.

Several hedge funds have recently bought and sold shares of BCE. Investors Research Corp purchased a new position in BCE in the first quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in BCE in the second quarter valued at about $25,000. Lindbrook Capital LLC boosted its holdings in BCE by 72.9% in the second quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 360 shares during the last quarter. Osborn Williams & Donohoe LLC purchased a new position in BCE in the first quarter valued at about $45,000. Finally, Putnam FL Investment Management Co. purchased a new position in BCE in the second quarter valued at about $57,000. Institutional investors and hedge funds own 43.72% of the company’s stock.

BCE Company Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Analyst Recommendations for BCE (NYSE:BCE)

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