BCE Inc. (NYSE:BCE) has received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $57.30.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Wednesday, October 5th. Desjardins reaffirmed a “hold” rating and set a $64.00 price objective on shares of BCE in a research note on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $66.00 price objective (up from $62.00) on shares of BCE in a research note on Sunday, August 7th. BMO Capital Markets reaffirmed a “buy” rating and set a $65.00 price objective on shares of BCE in a research note on Friday, August 5th. Finally, Citigroup Inc. raised their price objective on BCE from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, July 19th.
A number of hedge funds have recently modified their holdings of the company. Societe Generale bought a new stake in shares of BCE during the second quarter valued at approximately $118,000. First Interstate Bank raised its stake in shares of BCE by 62.9% in the second quarter. First Interstate Bank now owns 2,850 shares of the company’s stock valued at $135,000 after buying an additional 1,100 shares during the period. Cribstone Capital Management LLC bought a new stake in shares of BCE during the second quarter valued at approximately $170,000. Park Avenue Securities LLC bought a new stake in shares of BCE during the second quarter valued at approximately $204,000. Finally, Howland Capital Management LLC bought a new stake in shares of BCE during the second quarter valued at approximately $204,000. Institutional investors and hedge funds own 44.50% of the company’s stock.
BCE (NYSE:BCE) opened at 45.51 on Monday. The firm has a market capitalization of $39.57 billion, a P/E ratio of 19.02 and a beta of 0.40. BCE has a one year low of $35.96 and a one year high of $49.03. The firm’s 50-day moving average price is $46.37 and its 200 day moving average price is $46.74.
BCE (NYSE:BCE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.03. BCE had a return on equity of 22.89% and a net margin of 13.02%. The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts anticipate that BCE will post $2.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $2.08 annualized dividend and a yield of 4.57%. BCE’s dividend payout ratio (DPR) is presently 88.14%.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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