BCE Inc. (BCE) Given a $60.00 Price Target by Canaccord Genuity Analysts
BCE Inc. (NYSE:BCE) (TSE:BCE) has been given a $60.00 price target by stock analysts at Canaccord Genuity in a research report issued on Tuesday. The brokerage currently has a “hold” rating on the utilities provider’s stock. Canaccord Genuity’s price objective suggests a potential upside of 35.50% from the stock’s current price.
A number of other brokerages have also recently commented on BCE. Zacks Investment Research cut BCE from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Barclays PLC initiated coverage on BCE in a research note on Tuesday, March 21st. They issued an “overweight” rating and a $47.00 price target for the company. Desjardins raised BCE from a “hold” rating to a “buy” rating in a research note on Friday, February 3rd. Finally, Citigroup Inc raised BCE from a “neutral” rating to a “buy” rating in a research note on Thursday, April 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $59.33.
Shares of BCE (NYSE:BCE) traded down 0.90% on Tuesday, hitting $44.28. 1,074,135 shares of the company’s stock traded hands. The company has a market cap of $39.83 billion, a price-to-earnings ratio of 18.34 and a beta of 0.38. BCE has a 1-year low of $41.83 and a 1-year high of $49.03. The firm’s 50-day moving average price is $45.08 and its 200 day moving average price is $44.14.
BCE (NYSE:BCE) last announced its quarterly earnings results on Wednesday, April 26th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.37 billion. BCE had a return on equity of 23.11% and a net margin of 13.73%. BCE’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. On average, equities research analysts expect that BCE will post $2.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Thursday, June 15th will be given a $0.5316 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.13 annualized dividend and a dividend yield of 4.80%. BCE’s dividend payout ratio is presently 81.53%.
Several institutional investors have recently modified their holdings of the stock. Summit Global Investments acquired a new position in shares of BCE during the first quarter valued at about $495,000. FNY Partners Fund LP acquired a new position in shares of BCE during the first quarter valued at about $168,000. Bfsg LLC acquired a new position in shares of BCE during the first quarter valued at about $1,905,000. HighTower Advisors LLC raised its position in shares of BCE by 9.7% in the first quarter. HighTower Advisors LLC now owns 61,261 shares of the utilities provider’s stock valued at $2,712,000 after buying an additional 5,405 shares in the last quarter. Finally, Credit Suisse AG raised its position in shares of BCE by 1.3% in the first quarter. Credit Suisse AG now owns 1,453,489 shares of the utilities provider’s stock valued at $64,347,000 after buying an additional 18,856 shares in the last quarter. Institutional investors and hedge funds own 43.98% of the company’s stock.
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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