BCE (NYSE:BCE) Stock Rating Lowered by Desjardins

BCE (NYSE:BCE) (TSE:BCE) was downgraded by analysts at Desjardins to a “hold” rating in a research note issued to investors on Friday, TipRanks reports.

Other analysts have also recently issued research reports about the company. Citigroup cut BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. TD Securities upgraded BCE from a “hold” rating to a “buy” rating and set a $44.38 target price on the stock in a research report on Tuesday, June 18th. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, July 30th. BMO Capital Markets reiterated an “average” rating and set a $63.00 target price on shares of BCE in a research report on Friday. Finally, Barclays reiterated an “average” rating and set a $66.00 target price on shares of BCE in a research report on Sunday, May 5th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.90.

BCE stock traded down $0.20 during mid-day trading on Friday, hitting $45.78. The company’s stock had a trading volume of 187,402 shares, compared to its average volume of 818,378. The firm has a market cap of $41.03 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 4.93 and a beta of 0.41. BCE has a 1 year low of $38.75 and a 1 year high of $47.14. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 1.33. The business has a fifty day moving average price of $45.74.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. BCE had a return on equity of 19.15% and a net margin of 12.51%. The company had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period last year, the firm earned $0.86 earnings per share. BCE’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts predict that BCE will post 2.67 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its holdings in BCE by 9.7% in the 1st quarter. Signaturefd LLC now owns 2,781 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 247 shares during the last quarter. Grove Bank & Trust lifted its position in shares of BCE by 1.2% during the second quarter. Grove Bank & Trust now owns 22,486 shares of the utilities provider’s stock worth $1,022,000 after purchasing an additional 261 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of BCE by 8.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,475 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 271 shares during the last quarter. Cordasco Financial Network lifted its position in shares of BCE by 2.4% during the second quarter. Cordasco Financial Network now owns 12,438 shares of the utilities provider’s stock worth $566,000 after purchasing an additional 293 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of BCE by 72.9% during the second quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 43.72% of the company’s stock.

About BCE

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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