BCE, Inc. (NYSE:BCE) PT Raised to $51.00
BCE, Inc. (NYSE:BCE) (TSE:BCE) had its price target hoisted by investment analysts at Barclays PLC from $47.00 to $51.00 in a report issued on Friday. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays PLC’s price target would indicate a potential upside of 9.18% from the company’s previous close.
A number of other equities research analysts have also weighed in on BCE. Citigroup Inc. upgraded shares of BCE from a “neutral” rating to a “buy” rating in a report on Thursday, April 6th. Zacks Investment Research lowered shares of BCE from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Canaccord Genuity set a $60.00 price objective on shares of BCE and gave the company a “hold” rating in a report on Tuesday, May 16th. BidaskClub upgraded shares of BCE from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Argus started coverage on shares of BCE in a report on Tuesday, July 18th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $58.43.
Shares of BCE (BCE) traded down 0.09% during trading on Friday, hitting $46.71. 656,335 shares of the company traded hands. The company has a market capitalization of $42.02 billion, a price-to-earnings ratio of 19.21 and a beta of 0.36. BCE has a 52 week low of $41.83 and a 52 week high of $49.03. The company has a 50 day moving average price of $45.55 and a 200 day moving average price of $44.82.
BCE (NYSE:BCE) (TSE:BCE) last announced 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 12.85% and a return on equity of 21.40%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts expect that BCE will post $2.67 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Gulf International Bank UK Ltd increased its position in BCE by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 46,401 shares of the utilities provider’s stock worth $2,051,000 after buying an additional 300 shares during the period. Cribstone Capital Management LLC increased its position in BCE by 63.9% in the first quarter. Cribstone Capital Management LLC now owns 4,762 shares of the utilities provider’s stock worth $215,000 after buying an additional 1,857 shares during the period. Mawer Investment Management Ltd. increased its position in BCE by 28.9% in the first quarter. Mawer Investment Management Ltd. now owns 2,417,270 shares of the utilities provider’s stock worth $187,289,000 after buying an additional 541,437 shares during the period. Americafirst Capital Management LLC acquired a new position in BCE during the first quarter worth approximately $799,000. Finally, Nationwide Fund Advisors acquired a new position in BCE during the first quarter worth approximately $551,000. 44.00% of the stock is currently owned by institutional investors and hedge funds.
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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