Canaccord Genuity reissued their hold rating on shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) in a research report released on Thursday. Canaccord Genuity currently has a $60.00 target price on the utilities provider’s stock.
A number of other equities analysts have also weighed in on BCE. Morgan Stanley lowered their price objective on shares of BCE from $62.00 to $60.00 and set an equal weight rating on the stock in a research report on Wednesday, September 27th. Barclays PLC lifted their price objective on shares of BCE from $47.00 to $51.00 and gave the company an overweight rating in a research report on Friday, August 4th. BidaskClub upgraded shares of BCE from a hold rating to a buy rating in a research report on Monday, July 31st. Argus began coverage on shares of BCE in a research report on Tuesday, July 18th. They issued a hold rating on the stock. Finally, Zacks Investment Research lowered shares of BCE from a strong-buy rating to a hold rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $56.83.
BCE (BCE) traded up $0.32 during trading hours on Thursday, reaching $47.45. 793,520 shares of the company were exchanged, compared to its average volume of 675,297. BCE has a 1 year low of $41.83 and a 1 year high of $48.27. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 1.16. The stock has a market cap of $42,721.66, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 5.14 and a beta of 0.34.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). BCE had a net margin of 12.78% and a return on equity of 20.80%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business earned $0.94 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. equities research analysts anticipate that BCE will post 2.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 15th will be given a dividend of $0.558 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.23 annualized dividend and a dividend yield of 4.70%. BCE’s payout ratio is currently 93.50%.
Several hedge funds and other institutional investors have recently modified their holdings of BCE. APG Asset Management N.V. boosted its position in shares of BCE by 123.4% during the 3rd quarter. APG Asset Management N.V. now owns 4,492,016 shares of the utilities provider’s stock worth $209,976,000 after purchasing an additional 2,481,400 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of BCE during the 2nd quarter worth $93,848,000. FMR LLC boosted its position in shares of BCE by 13.5% during the 2nd quarter. FMR LLC now owns 13,936,315 shares of the utilities provider’s stock worth $627,607,000 after purchasing an additional 1,662,207 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of BCE by 3,184.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,540,242 shares of the utilities provider’s stock worth $69,262,000 after purchasing an additional 1,493,348 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of BCE by 113.9% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock worth $93,899,000 after buying an additional 1,111,892 shares in the last quarter. Institutional investors own 43.02% 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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