BidaskClub upgraded shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) from a sell rating to a hold rating in a research note released on Tuesday, June 13th.
A number of other brokerages also recently weighed in on BCE. Canaccord Genuity set a $60.00 price objective on shares of BCE and gave the company a hold rating in a research report on Tuesday, May 16th. Zacks Investment Research lowered shares of BCE from a hold rating to a sell rating in a research note on Wednesday, May 3rd. Barclays PLC initiated coverage on shares of BCE in a research note on Tuesday, March 21st. They set an overweight rating and a $47.00 target price for the company. Finally, Citigroup Inc. raised shares of BCE from a neutral rating to a buy rating in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $59.33.
Shares of BCE (NYSE BCE) traded down 0.84% on Tuesday, reaching $44.79. The company’s stock had a trading volume of 1,383,443 shares. BCE has a 12-month low of $41.83 and a 12-month high of $49.03. The company’s 50-day moving average is $45.01 and its 200 day moving average is $44.38. The company has a market capitalization of $40.29 billion, a price-to-earnings ratio of 18.13 and a beta of 0.38.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Wednesday, April 26th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. BCE had a net margin of 13.36% and a return on equity of 22.03%. The business had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that BCE will post $2.54 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Thursday, June 15th will be issued a $0.5316 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 4.75%. BCE’s payout ratio is currently 85.89%.
Several hedge funds have recently added to or reduced their stakes in BCE. Credit Agricole S A increased its stake in BCE by 16.3% in the fourth quarter. Credit Agricole S A now owns 261,619 shares of the utilities provider’s stock worth $11,313,000 after buying an additional 36,708 shares during the last quarter. Gideon Capital Advisors Inc. acquired a new stake in BCE during the fourth quarter worth approximately $358,000. Letko Brosseau & Associates Inc. increased its stake in BCE by 2.0% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 6,300,898 shares of the utilities provider’s stock worth $272,318,000 after buying an additional 121,915 shares during the last quarter. Aviva PLC raised its stake in BCE by 7.4% in the fourth quarter. Aviva PLC now owns 198,585 shares of the utilities provider’s stock worth $8,561,000 after buying an additional 13,652 shares in the last quarter. Finally, Keybank National Association OH raised its stake in BCE by 2.8% in the fourth quarter. Keybank National Association OH now owns 42,710 shares of the utilities provider’s stock worth $1,847,000 after buying an additional 1,160 shares in the last quarter. Institutional investors and hedge funds own 44.21% of the company’s stock.
BCE Company Profile
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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