BCE (NYSE:BCE) Reaches New 52-Week Low at $45.96

Shares of BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) reached a new 52-week low during trading on Wednesday . The stock traded as low as $45.96 and last traded at $46.57, with a volume of 69698 shares. The stock had previously closed at $46.27.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BCE. Scotiabank raised their target price on shares of BCE from C$68.50 to C$69.00 in a report on Tuesday, September 6th. Canaccord Genuity Group cut their target price on shares of BCE from C$70.00 to C$66.00 in a report on Friday, July 22nd. Finally, Barclays raised their target price on shares of BCE from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.10.

BCE Trading Up 0.7 %

The firm has a market cap of $42.16 billion, a P/E ratio of 18.57, a PEG ratio of 3.97 and a beta of 0.49. The firm’s fifty day moving average is $49.06 and its two-hundred day moving average is $51.81. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.36.

BCE (NYSE:BCEGet Rating) (TSE:BCE) last released its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The business had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.87 billion. BCE had a net margin of 12.40% and a return on equity of 15.73%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. Analysts predict that BCE Inc. will post 2.62 earnings per share for the current fiscal year.

BCE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Thursday, September 15th will be issued a $0.719 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.88 annualized dividend and a yield of 6.22%. This is a boost from BCE’s previous quarterly dividend of $0.72. BCE’s payout ratio is 114.86%.

Institutional Trading of BCE

Large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its holdings in shares of BCE by 720.1% during the 4th quarter. Alliancebernstein L.P. now owns 915,522 shares of the utilities provider’s stock valued at $47,644,000 after buying an additional 803,883 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of BCE by 11.8% during the 1st quarter. Stratos Wealth Partners LTD. now owns 66,308 shares of the utilities provider’s stock valued at $3,677,000 after buying an additional 6,982 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of BCE by 16.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 99,513 shares of the utilities provider’s stock valued at $5,519,000 after buying an additional 14,372 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of BCE by 5.3% during the 1st quarter. Fifth Third Bancorp now owns 13,965 shares of the utilities provider’s stock valued at $774,000 after buying an additional 697 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of BCE by 2.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 36,365 shares of the utilities provider’s stock valued at $2,017,000 after buying an additional 994 shares in the last quarter. Institutional investors own 43.83% of the company’s stock.

BCE Company Profile

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for BCE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE and related companies with MarketBeat.com's FREE daily email newsletter.