BCE (NYSE:BCE) (TSE:BCE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Scotiabank in a research report issued to clients and investors on Friday, TipRanks reports.
Several other research analysts also recently commented on the company. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Tuesday, July 30th. Citigroup downgraded BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. downgraded BCE from an “overweight” rating to a “neutral” rating and set a $60.00 target price for the company. in a research note on Monday, July 8th. Desjardins downgraded BCE to a “hold” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets reiterated an “average” rating and set a $63.00 target price on shares of BCE in a research note on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.90.
Shares of NYSE BCE traded up $0.10 during midday trading on Friday, hitting $46.84. 538,649 shares of the company’s stock were exchanged, compared to its average volume of 809,085. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 1.33. BCE has a 12 month low of $38.75 and a 12 month high of $47.14. The company’s 50 day moving average price is $45.97 and its 200 day moving average price is $44.97. The firm has a market capitalization of $41.78 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 4.93 and a beta of 0.41.
BCE (NYSE:BCE) (TSE:BCE) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. BCE had a return on equity of 19.15% and a net margin of 12.51%. The company had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that BCE will post 2.69 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Comerica Securities Inc. raised its stake in shares of BCE by 54.0% during the fourth quarter. Comerica Securities Inc. now owns 19,361 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 6,786 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of BCE by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 74,256 shares of the utilities provider’s stock worth $2,935,000 after buying an additional 6,232 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of BCE by 35.2% in the fourth quarter. Geode Capital Management LLC now owns 487,720 shares of the utilities provider’s stock worth $20,316,000 after buying an additional 127,060 shares during the last quarter. Pennsylvania Trust Co bought a new stake in shares of BCE in the first quarter worth $396,000. Finally, CWM LLC increased its stake in shares of BCE by 136.4% in the first quarter. CWM LLC now owns 71,219 shares of the utilities provider’s stock worth $3,161,000 after buying an additional 41,097 shares during the last quarter. 44.54% of the stock is owned by institutional investors and hedge funds.
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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