BCE (BCE) Stock Rating Reaffirmed by Royal Bank of Canada

BCE (NYSE:BCE) (TSE:BCE)‘s stock had its “hold” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued on Friday, November 2nd.

Other equities research analysts also recently issued research reports about the company. Desjardins raised BCE from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Monday, October 15th. Scotiabank raised BCE from a “sector perform” rating to a “buy” rating in a report on Wednesday, October 10th. Edward Jones raised BCE from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Finally, ValuEngine raised BCE from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $51.75.

NYSE:BCE remained flat at $$40.99 on Friday. The company’s stock had a trading volume of 818,140 shares, compared to its average volume of 1,075,333. The firm has a market capitalization of $36.72 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 4.41 and a beta of 0.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.57 and a quick ratio of 0.53. BCE has a 12 month low of $38.75 and a 12 month high of $49.06.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. BCE had a return on equity of 18.73% and a net margin of 12.13%. The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts predict that BCE will post 2.65 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in BCE. Edge Wealth Management LLC acquired a new stake in shares of BCE during the 3rd quarter worth approximately $103,000. Stratos Wealth Partners LTD. acquired a new stake in shares of BCE during the 3rd quarter worth approximately $133,000. Cerebellum GP LLC raised its position in shares of BCE by 171.5% during the 2nd quarter. Cerebellum GP LLC now owns 4,268 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 2,696 shares during the period. New England Asset Management Inc. acquired a new stake in shares of BCE during the 2nd quarter worth approximately $203,000. Finally, Lenox Wealth Management Inc. raised its position in shares of BCE by 42.2% during the 2nd quarter. Lenox Wealth Management Inc. now owns 4,958 shares of the utilities provider’s stock worth $204,000 after purchasing an additional 1,472 shares during the period. 42.85% of the stock is currently owned by institutional investors.

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. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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