BCE, Inc. (BCE) Receives Consensus Recommendation of “Buy” from Brokerages
BCE, Inc. (NYSE:BCE) (TSE:BCE) has earned a consensus recommendation of “Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $56.83.
Several research analysts recently commented on the company. BidaskClub upgraded BCE from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Argus assumed coverage on BCE in a research note on Tuesday, July 18th. They issued a “hold” rating on the stock. Zacks Investment Research cut BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 7th. Morgan Stanley cut their price target on BCE from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 27th. Finally, Barclays PLC boosted their price target on BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th.
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BCE (BCE) traded up 0.49% during trading on Wednesday, reaching $47.23. The company had a trading volume of 856,176 shares. The company has a market capitalization of $42.52 billion, a P/E ratio of 19.42 and a beta of 0.35. BCE has a 12 month low of $41.83 and a 12 month high of $48.27. The firm’s 50 day moving average is $47.35 and its 200-day moving average is $45.92.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The company had revenue of $5.70 billion for 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%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, equities analysts expect that BCE will post $2.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 annualized dividend and a dividend yield of 4.87%. BCE’s dividend payout ratio is 93.44%.
Large investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of BCE by 0.7% during the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 20 shares during the last quarter. Camarda Financial Advisors LLC grew its holdings in shares of BCE by 0.5% during the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 16 shares during the last quarter. AT Bancorp bought a new position in shares of BCE during the second quarter valued at approximately $149,000. FNY Partners Fund LP bought a new position in shares of BCE during the first quarter valued at approximately $168,000. Finally, Adell Harriman & Carpenter Inc. bought a new position in shares of BCE during the second quarter valued at approximately $203,000. 42.74% of the stock is owned by institutional investors.
BCE Company Profile
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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