BCE, Inc. $BCE Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC reduced its holdings in BCE, Inc. by 4.3%, now owning 440,255 shares valued at approximately $9.76 million.
• BCE reported a quarterly EPS of $0.46, missing the estimate of $0.52, with revenue of $4.47 billion compared to the expected $5.91 billion.
• The company announced a quarterly dividend of $0.4375 per share, representing an annualized dividend yield of 7.5% and a significant payout ratio of 437.93%.

Janney Montgomery Scott LLC trimmed its holdings in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 4.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 440,255 shares of the utilities provider's stock after selling 19,962 shares during the period. Janney Montgomery Scott LLC's holdings in BCE were worth $9,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BCE. SVB Wealth LLC acquired a new stake in shares of BCE during the 1st quarter worth about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BCE during the 1st quarter worth about $47,000. Geneos Wealth Management Inc. boosted its stake in shares of BCE by 64.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,096 shares of the utilities provider's stock worth $71,000 after purchasing an additional 1,217 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of BCE during the 1st quarter worth about $88,000. Finally, ORG Partners LLC boosted its stake in shares of BCE by 77.2% during the 1st quarter. ORG Partners LLC now owns 3,891 shares of the utilities provider's stock worth $89,000 after purchasing an additional 1,695 shares during the last quarter. 41.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Desjardins raised shares of BCE from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. TD Securities reaffirmed a "hold" rating on shares of BCE in a research note on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BCE in a research note on Saturday, September 27th. CIBC reiterated a "neutral" rating on shares of BCE in a report on Friday, August 22nd. Finally, National Bankshares reiterated an "outperform" rating on shares of BCE in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $32.50.

BCE Trading Up 0.6%

NYSE BCE opened at $23.37 on Friday. BCE, Inc. has a one year low of $20.28 and a one year high of $33.91. The company's 50 day moving average price is $24.15 and its 200 day moving average price is $22.95. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.57 and a current ratio of 0.61. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 80.57, a PEG ratio of 3.94 and a beta of 0.63.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.06). The business had revenue of $4.47 billion during the quarter, compared to analysts' expectations of $5.91 billion. BCE had a net margin of 1.96% and a return on equity of 18.89%. The company's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. On average, sell-side analysts predict that BCE, Inc. will post 1.94 EPS for the current year.

BCE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.4375 per share. The ex-dividend date is Monday, September 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 7.5%. BCE's dividend payout ratio (DPR) is currently 437.93%.

BCE Profile

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.

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