BCE, Inc. (BCE) Rating Increased to Strong-Buy at BidaskClub
BCE, Inc. (NYSE:BCE) (TSE:BCE) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.
A number of other brokerages also recently weighed in on BCE. Zacks Investment Research downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, August 7th. Barclays PLC upped their price target on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Argus assumed coverage on shares of BCE in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, Canaccord Genuity set a $60.00 price target on shares of BCE and gave the company a “hold” rating in a report on Tuesday, May 16th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. BCE presently has a consensus rating of “Buy” and a consensus target price of $55.80.
BCE (BCE) traded up 0.66% during mid-day trading on Friday, hitting $47.53. 787,110 shares of the stock were exchanged. BCE has a one year low of $41.83 and a one year high of $48.35. The company has a market cap of $42.79 billion, a P/E ratio of 18.62 and a beta of 0.36. The company has a 50-day moving average price of $46.49 and a 200-day moving average price of $45.12.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.02. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. BCE had a return on equity of 21.08% and a net margin of 12.85%. During the same period in the previous year, the company earned $0.94 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts forecast that BCE will post $2.65 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. Mawer Investment Management Ltd. increased its stake 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 valued at $187,289,000 after buying an additional 541,437 shares during the last quarter. Nationwide Fund Advisors bought a new stake in BCE during the first quarter valued at about $551,000. APG Asset Management N.V. increased its stake in BCE by 0.8% in the second quarter. APG Asset Management N.V. now owns 2,010,616 shares of the utilities provider’s stock valued at $117,420,000 after buying an additional 15,200 shares during the last quarter. United Services Automobile Association increased its stake in BCE by 16.5% in the first quarter. United Services Automobile Association now owns 107,157 shares of the utilities provider’s stock valued at $4,744,000 after buying an additional 15,172 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in BCE by 4.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 71,910 shares of the utilities provider’s stock valued at $3,239,000 after buying an additional 3,369 shares during the last quarter. Hedge funds and other institutional investors own 44.35% 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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