BCE (NYSE:BCE – Get Rating) (TSE:BCE) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.25-3.41 for the period, compared to the Thomson Reuters consensus estimate of $3.36. The company issued revenue guidance of $23.68-24.62 billion, compared to the consensus revenue estimate of $24.21 billion.
A number of brokerages have weighed in on BCE. National Bank Financial increased their price target on BCE from C$70.00 to C$71.00 in a research note on Friday, February 4th. StockNews.com started coverage on BCE in a research note on Thursday, March 31st. They issued a hold rating on the stock. Desjardins lifted their price target on BCE from C$66.50 to C$68.00 in a report on Monday, February 7th. CIBC increased their price objective on shares of BCE from C$65.00 to C$67.00 in a report on Friday, February 4th. Finally, Royal Bank of Canada boosted their target price on shares of BCE from C$65.00 to C$66.00 in a report on Friday, February 4th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $65.64.
BCE opened at $54.50 on Thursday. BCE has a 52-week low of $47.59 and a 52-week high of $59.34. The company has a 50 day moving average of $55.30 and a two-hundred day moving average of $52.93. The company has a market cap of $49.69 billion, a P/E ratio of 22.80, a P/E/G ratio of 4.48 and a beta of 0.47. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.43.
Several institutional investors and hedge funds have recently modified their holdings of BCE. JustInvest LLC raised its stake in shares of BCE by 27.4% during the fourth quarter. JustInvest LLC now owns 8,663 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 1,862 shares during the period. BlackRock Inc. increased its position in shares of BCE by 9.7% during the fourth quarter. BlackRock Inc. now owns 504,128 shares of the utilities provider’s stock worth $26,235,000 after acquiring an additional 44,456 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of BCE by 58.9% during the fourth quarter. Allianz Asset Management GmbH now owns 917,452 shares of the utilities provider’s stock worth $47,798,000 after buying an additional 340,081 shares in the last quarter. Autumn Glory Partners LLC bought a new stake in shares of BCE in the fourth quarter worth $270,000. Finally, Advisors Asset Management Inc. increased its stake in shares of BCE by 19.0% in the fourth quarter. Advisors Asset Management Inc. now owns 23,569 shares of the utilities provider’s stock worth $1,227,000 after buying an additional 3,758 shares during the last quarter. Institutional investors own 44.77% of the company’s stock.
About BCE (Get Rating)
BCE Inc operates as a telecommunications and media company in Canada. The company offers wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers. It operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment provides wireless voice and data communication products and services, and consumer electronics products.
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