BCE, Inc. (BCE) Given “Hold” Rating at Canaccord Genuity
Canaccord Genuity reissued their hold rating on shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) in a report released on Thursday morning. They currently have a $60.00 target price on the utilities provider’s stock.
A number of other brokerages have also weighed in on BCE. BidaskClub raised shares of BCE from a buy rating to a strong-buy rating in a research note on Saturday, August 26th. Morgan Stanley cut their price target on shares of BCE from $62.00 to $60.00 and set an equal weight rating on the stock in a research note on Wednesday, September 27th. Zacks Investment Research raised shares of BCE from a hold rating to a buy rating and set a $52.00 price target on the stock in a research note on Wednesday, October 4th. Barclays PLC lifted their price target on shares of BCE from $47.00 to $51.00 and gave the company an overweight rating in a research note on Friday, August 4th. Finally, Argus assumed coverage on shares of BCE in a research note on Tuesday, July 18th. They issued a hold rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $56.83.
Shares of BCE (BCE) traded up $0.28 on Thursday, reaching $47.73. 687,223 shares of the company’s stock were exchanged, compared to its average volume of 683,871. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.47 and a current ratio of 0.51. BCE has a 1 year low of $41.83 and a 1 year high of $48.27. The company has a market capitalization of $42,725.72, a price-to-earnings ratio of 18.39, a P/E/G ratio of 5.14 and a beta of 0.34.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). BCE had a net margin of 12.78% and a return on equity of 20.15%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the firm posted $0.94 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. research analysts forecast that BCE will post 2.64 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be given a $0.558 dividend. This represents a $2.23 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Thursday, December 14th. BCE’s dividend payout ratio is presently 93.50%.
Several hedge funds have recently made changes to their positions in BCE. SG Americas Securities LLC lifted its position in shares of BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 20 shares in the last quarter. Camarda Financial Advisors LLC lifted its position in shares of BCE by 0.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 16 shares in the last quarter. AT Bancorp bought a new stake in shares of BCE in the second quarter worth $149,000. Howland Capital Management LLC bought a new stake in shares of BCE in the third quarter worth $202,000. Finally, Adell Harriman & Carpenter Inc. bought a new stake in shares of BCE in the second quarter worth $203,000. 42.90% of the stock is currently owned by institutional investors and hedge funds.
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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