BCE Given BBB+ Credit Rating by Morningstar (BCE)
BCE (NYSE:BCE) has received a “BBB+” credit rating from analysts at Morningstar. The agency’s “BBB+” rating suggests that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
Other equities research analysts have also recently issued reports about the stock. Analysts at Global Maxfin Capital initiated coverage on shares of BCE in a research note on Monday, August 11th. They set a “buy” rating on the stock. Separately, analysts at Macquarie downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Friday, August 8th. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of BCE in a research note on Thursday, July 24th. They now have a $50.00 price target on the stock, up previously from $48.00. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.50.
BCE (NYSE:BCE) opened at 45.02 on Wednesday. BCE has a 52-week low of $40.60 and a 52-week high of $46.70. The stock’s 50-day moving average is $44.95 and its 200-day moving average is $44.60. The company has a market cap of $35.032 billion and a P/E ratio of 18.51.
BCE (NYSE:BCE) last released its earnings data on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.85 by $0.03. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter last year, the company posted $0.77 earnings per share. BCE’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that BCE will post $3.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.5662 per share. This represents a $2.26 annualized dividend and a yield of 5.03%. The ex-dividend date is Thursday, September 11th.
BCE Inc is a communications company, providing residential, business and wholesale customers with a range of solutions to all their communications needs.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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