Raymond James Financial Inc. Boosts Position in BCE, Inc. $BCE

Key Points

• Raymond James Financial Inc. increased its stake in BCE, Inc. by 21.9%, acquiring an additional 77,763 shares in the first quarter, bringing its total holdings to 432,946 shares valued at approximately $9.94 million.
• BCE reported a miss in quarterly earnings with an EPS of $0.46, below the consensus estimate of $0.52, alongside revenues of $4.47 billion compared to expectations of $5.91 billion.
• The company also announced a quarterly dividend of $0.4375 per share, translating to an annual yield of 7.0%, with a significant dividend payout ratio of 434.48%.

Raymond James Financial Inc. grew its position in shares of BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 21.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 432,946 shares of the utilities provider's stock after buying an additional 77,763 shares during the quarter. Raymond James Financial Inc.'s holdings in BCE were worth $9,940,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new stake in shares of BCE in the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BCE in the first quarter valued at about $47,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of BCE by 67.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,310 shares of the utilities provider's stock valued at $76,000 after purchasing an additional 1,329 shares during the period. Headlands Technologies LLC acquired a new stake in shares of BCE in the first quarter valued at about $88,000. Finally, ORG Partners LLC lifted its stake in shares of BCE by 77.2% in the first quarter. ORG Partners LLC now owns 3,891 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 1,695 shares during the period. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Trading Down 0.2%

Shares of BCE stock traded down $0.05 during mid-day trading on Thursday, hitting $24.49. 1,117,299 shares of the stock were exchanged, compared to its average volume of 3,274,010. BCE, Inc. has a twelve month low of $20.28 and a twelve month high of $36.17. The stock has a market capitalization of $22.83 billion, a price-to-earnings ratio of 84.43, a price-to-earnings-growth ratio of 4.20 and a beta of 0.63. The company has a 50-day simple moving average of $24.11 and a 200 day simple moving average of $22.99. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 2.17.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.06). BCE had a return on equity of 18.89% and a net margin of 1.96%.The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the business earned $0.78 earnings per share. BCE's revenue for the quarter was up 1.3% on a year-over-year basis. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. Research analysts forecast that BCE, Inc. will post 1.94 EPS for the current year.

BCE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.75 annualized dividend and a dividend yield of 7.1%. BCE's dividend payout ratio (DPR) is currently 434.48%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Desjardins upgraded shares of BCE from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. TD Securities reiterated a "hold" rating on shares of BCE in a research note on Friday, August 8th. National Bankshares reiterated an "outperform" rating on shares of BCE in a research note on Friday, August 15th. Cibc World Mkts cut shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Scotiabank raised shares of BCE from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $38.67.

BCE Company 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.