BCE’s (BCE) Buy Rating Reiterated at Canaccord Genuity

BCE (NYSE:BCE) (TSE:BCE)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a note issued to investors on Wednesday, AnalystRatings.com reports. They currently have a $58.00 price objective on the utilities provider’s stock. Canaccord Genuity’s price objective indicates a potential upside of 53.89% from the company’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley lowered shares of BCE from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated a “hold” rating and set a $58.00 price objective (down previously from $64.00) on shares of BCE in a report on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $57.48.

BCE traded up $2.63 during trading on Wednesday, reaching $37.69. 2,468,519 shares of the stock traded hands, compared to its average volume of 1,287,437. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $32.35 billion, a PE ratio of 14.78, a P/E/G ratio of 2.87 and a beta of 0.45. The stock’s 50-day moving average is $44.53 and its 200 day moving average is $46.91. BCE has a 12 month low of $31.66 and a 12 month high of $49.58.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.19. BCE had a return on equity of 18.89% and a net margin of 12.84%. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same period last year, the company posted $0.89 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that BCE will post 2.7 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCE. Duncker Streett & Co. Inc. bought a new position in shares of BCE in the fourth quarter valued at approximately $32,000. Orion Portfolio Solutions LLC purchased a new position in BCE during the 4th quarter worth $35,000. AlphaMark Advisors LLC purchased a new position in BCE during the 4th quarter worth $39,000. Americana Partners LLC bought a new stake in shares of BCE in the 4th quarter worth $40,000. Finally, Sugarloaf Wealth Management LLC bought a new stake in shares of BCE in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 44.66% of the company’s stock.

BCE Company Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Analyst Recommendations for BCE (NYSE:BCE)

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