BCE Inc. (NYSE:BCE) Given Average Recommendation of “Hold” by Brokerages

BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating. The average 12 month target price among brokerages that have covered the stock in the last year is $66.10.

BCE has been the topic of several analyst reports. Scotiabank boosted their price target on shares of BCE from C$68.50 to C$69.00 in a research report on Tuesday, September 6th. Barclays boosted their price objective on shares of BCE from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, August 5th. Finally, Canaccord Genuity Group lowered their price objective on shares of BCE from C$70.00 to C$66.00 in a research note on Friday, July 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BCE. HighTower Advisors LLC boosted its holdings in BCE by 6.5% in the 4th quarter. HighTower Advisors LLC now owns 43,821 shares of the utilities provider’s stock valued at $2,282,000 after purchasing an additional 2,685 shares during the period. Pictet Asset Management SA lifted its holdings in shares of BCE by 2.2% during the 4th quarter. Pictet Asset Management SA now owns 50,961 shares of the utilities provider’s stock worth $2,655,000 after acquiring an additional 1,121 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of BCE by 186.1% during the 4th quarter. Qube Research & Technologies Ltd now owns 68,170 shares of the utilities provider’s stock worth $3,548,000 after acquiring an additional 44,345 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of BCE by 1.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,970,204 shares of the utilities provider’s stock worth $102,529,000 after acquiring an additional 28,559 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of BCE by 9.0% during the 4th quarter. Private Advisor Group LLC now owns 57,779 shares of the utilities provider’s stock worth $3,007,000 after acquiring an additional 4,759 shares during the period. Institutional investors and hedge funds own 43.83% of the company’s stock.

BCE Trading Up 0.4 %

BCE opened at $46.55 on Friday. The stock has a market capitalization of $42.45 billion, a P/E ratio of 18.69, a P/E/G ratio of 4.10 and a beta of 0.49. BCE has a 12 month low of $46.13 and a 12 month high of $59.34. The firm’s fifty day simple moving average is $49.36 and its 200 day simple moving average is $52.13. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.36.

BCE (NYSE:BCEGet Rating) (TSE:BCE) last issued its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. BCE had a net margin of 12.40% and a return on equity of 15.73%. The firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.87 billion. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that BCE will post 2.62 EPS for the current fiscal year.

BCE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Thursday, September 15th will be paid a $0.719 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.88 dividend on an annualized basis and a yield of 6.18%. This is a positive change from BCE’s previous quarterly dividend of $0.72. BCE’s dividend payout ratio is 114.06%.

About BCE

(Get Rating)

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.

Further Reading

Analyst Recommendations for BCE (NYSE:BCE)

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