Shares of BCE Inc. (NYSE:BCE – Get 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 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
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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