BCE (TSE:BCE) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• BCE shares passed above their 200-day moving average (200-day MA C$33.52) intraday, trading as high as C$33.69 and last near C$33.50 on volume of about 6.2 million shares.
• Analysts have become more positive recently, leaving BCE with a consensus rating of "Moderate Buy" and an average price target of C$37.25 after several upgrades and price-target increases.
• BCE offers a sizable income profile and cheap valuation, with a quarterly dividend that annualizes to a 5.2% yield, a payout ratio of ~34%, and a trailing P/E of 4.93; the most recent quarter reported C$0.63 EPS on C$6.17 billion revenue.

Shares of BCE Inc. (TSE:BCE - Get Free Report) NYSE: BCE passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$33.52 and traded as high as C$33.69. BCE shares last traded at C$33.50, with a volume of 6,197,743 shares.

Analyst Ratings Changes

BCE has been the subject of a number of research reports. Barclays raised shares of BCE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 27th. National Bank Financial boosted their price target on shares of BCE from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a research note on Friday, February 6th. Royal Bank Of Canada boosted their price target on shares of BCE from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Desjardins cut their price target on shares of BCE from C$42.00 to C$41.50 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BCE from C$33.00 to C$37.00 in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$37.25.

BCE Trading Up 1.1%

The stock has a market capitalization of C$31.24 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 4.67 and a beta of 0.33. The company has a current ratio of 0.58, a quick ratio of 0.43 and a debt-to-equity ratio of 179.16. The stock's fifty day moving average price is C$34.20 and its two-hundred day moving average price is C$33.52.

BCE (TSE:BCE - Get Free Report) NYSE: BCE last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.63 earnings per share for the quarter. The firm had revenue of C$6.17 billion during the quarter. BCE had a net margin of 26.40% and a return on equity of 31.99%. Equities research analysts forecast that BCE Inc. will post 3.1120864 EPS for the current year.

BCE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, March 16th. BCE's payout ratio is presently 34.02%.

About BCE

Bell Media is Canada's leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media. This includes Canada's most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada's cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec's fast-growing conventional French-language network, Noovo; the country's leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services.

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