BCE Inc. (BCE) Receives Consensus Recommendation of “Hold” from Brokerages

BCE Inc. (NYSE:BCE) (TSE:BCE) has received a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $58.00.

A number of equities analysts recently weighed in on the company. Canaccord Genuity set a $60.00 price target on BCE and gave the stock a “hold” rating in a research note on Tuesday, May 16th. Zacks Investment Research cut BCE from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Barclays PLC assumed coverage on BCE in a research note on Tuesday, March 21st. They set an “overweight” rating and a $47.00 target price on the stock. Finally, Citigroup Inc raised BCE from a “neutral” rating to a “buy” rating in a research note on Thursday, April 6th.

Shares of BCE (NYSE:BCE) traded up 0.29% during midday trading on Tuesday, reaching $45.41. 748,265 shares of the company were exchanged. The firm’s 50 day moving average is $45.17 and its 200-day moving average is $44.25. The company has a market capitalization of $40.85 billion, a PE ratio of 18.78 and a beta of 0.38. BCE has a 52-week low of $41.83 and a 52-week high of $49.03.

BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Wednesday, April 26th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.37 billion. BCE had a return on equity of 19.17% and a net margin of 13.47%. BCE’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. On average, equities analysts forecast that BCE will post $2.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.5316 per share. The ex-dividend date is Tuesday, June 13th. This represents a $2.13 annualized dividend and a dividend yield of 4.68%. BCE’s dividend payout ratio is 81.53%.

Several large investors have recently made changes to their positions in BCE. Schroder Investment Management Group raised its stake in BCE by 311.1% in the first quarter. Schroder Investment Management Group now owns 4,026,494 shares of the utilities provider’s stock valued at $236,637,000 after buying an additional 3,047,060 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in BCE during the fourth quarter valued at $85,154,000. Bank of America Corp DE raised its stake in BCE by 25.9% in the first quarter. Bank of America Corp DE now owns 6,384,703 shares of the utilities provider’s stock valued at $282,651,000 after buying an additional 1,311,603 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in BCE during the first quarter valued at $43,100,000. Finally, Renaissance Technologies LLC raised its stake in BCE by 78.6% in the first quarter. Renaissance Technologies LLC now owns 2,159,371 shares of the utilities provider’s stock valued at $95,610,000 after buying an additional 950,073 shares during the period. Institutional investors and hedge funds own 43.98% of the company’s stock.

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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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BCE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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