BCE (NYSE:BCE) Reaches New 12-Month Low at $45.96

Shares of BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) hit a new 52-week low on Wednesday . The stock traded as low as $45.96 and last traded at $46.57, with a volume of 69698 shares changing hands. The stock had previously closed at $46.27.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays raised their price objective on BCE from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, August 5th. Canaccord Genuity Group dropped their price objective on BCE from C$70.00 to C$66.00 in a report on Friday, July 22nd. Finally, Scotiabank raised their price objective on BCE from C$68.50 to C$69.00 in a report on Tuesday, September 6th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.10.

BCE Price Performance

The stock has a 50 day simple moving average of $49.06 and a two-hundred day simple moving average of $51.81. The company has a market cap of $42.16 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 3.97 and a beta of 0.49. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.65 and a quick ratio of 0.59.

BCE (NYSE:BCEGet Rating) (TSE:BCE) last released its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.87 billion. BCE had a return on equity of 15.73% and a net margin of 12.40%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, equities research analysts predict that BCE Inc. will post 2.62 earnings per share for the current fiscal year.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.719 per share. The ex-dividend date is Wednesday, September 14th. This represents a $2.88 dividend on an annualized basis and a yield of 6.22%. This is a positive change from BCE’s previous quarterly dividend of $0.72. BCE’s payout ratio is 114.86%.

Hedge Funds Weigh In On BCE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Wealth Alliance LLC purchased a new stake in BCE in the second quarter valued at $30,000. Massmutual Trust Co. FSB ADV purchased a new stake in BCE in the second quarter valued at $39,000. Coston McIsaac & Partners purchased a new stake in BCE in the second quarter valued at $41,000. Core Alternative Capital purchased a new stake in BCE in the first quarter valued at $42,000. Finally, MBM Wealth Consultants LLC raised its position in BCE by 53.3% in the fourth quarter. MBM Wealth Consultants LLC now owns 958 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 43.83% of the company’s stock.

BCE Company Profile

(Get Rating)

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.

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