BCE (NYSE:BCE) Sets New 12-Month High at $53.03

BCE Inc. (NYSE:BCE) (TSE:BCE)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $53.03 and last traded at $52.98, with a volume of 28345 shares changing hands. The stock had previously closed at $52.53.

Several analysts recently weighed in on BCE shares. Desjardins lifted their price objective on shares of BCE from C$64.00 to C$66.00 and gave the company a “hold” rating in a research report on Monday, November 8th. CIBC boosted their price target on shares of BCE from C$64.00 to C$65.00 and gave the stock a “neutral” rating in a research report on Friday, November 5th. Barclays restated a “hold” rating and set a C$60.00 price target on shares of BCE in a research report on Wednesday, December 8th. Scotiabank boosted their price target on shares of BCE from C$66.00 to C$68.00 and gave the stock an “outperform” rating in a research report on Friday, November 5th. Finally, TD Securities downgraded shares of BCE from a “buy” rating to a “hold” rating and dropped their price target for the stock from $70.00 to $67.00 in a research report on Friday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.41.

The company’s 50 day moving average price is $51.41 and its 200-day moving average price is $50.94. The company has a market cap of $48.11 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 4.64 and a beta of 0.47. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.89 and a current ratio of 0.94.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, November 4th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.17. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.94 billion. BCE had a net margin of 13.13% and a return on equity of 16.49%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, sell-side analysts forecast that BCE Inc. will post 2.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, January 15th. Stockholders of record on Wednesday, December 15th will be paid a $0.7047 dividend. The ex-dividend date of this dividend is Tuesday, December 14th. This represents a $2.82 annualized dividend and a dividend yield of 5.33%. This is a boost from BCE’s previous quarterly dividend of $0.70. BCE’s payout ratio is currently 104.63%.

Several institutional investors and hedge funds have recently made changes to their positions in BCE. FMR LLC increased its position in shares of BCE by 34.7% in the first quarter. FMR LLC now owns 718,508 shares of the utilities provider’s stock worth $31,904,000 after acquiring an additional 185,075 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of BCE by 1,142.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 609 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 560 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of BCE by 305.4% in the second quarter. Rockefeller Capital Management L.P. now owns 49,104 shares of the utilities provider’s stock worth $2,421,000 after acquiring an additional 36,992 shares in the last quarter. Atria Investments LLC increased its position in shares of BCE by 17.3% in the second quarter. Atria Investments LLC now owns 45,342 shares of the utilities provider’s stock worth $2,236,000 after acquiring an additional 6,672 shares in the last quarter. Finally, Aviva PLC increased its position in shares of BCE by 9.3% in the second quarter. Aviva PLC now owns 110,855 shares of the utilities provider’s stock worth $5,466,000 after acquiring an additional 9,406 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors.

BCE Company Profile (NYSE:BCE)

BCE, Inc is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers.

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