S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68

BCE Inc. (NYSE:BCE) Receives Average Rating of "Hold" from Analysts

Last updated on Saturday, May 14, 2022 | 2022 MarketBeat

BCE Inc. (NYSE:BCE - Get Rating) (TSE:BCE) has received an average recommendation of "Hold" from the fourteen brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $66.50.

BCE has been the subject of a number of analyst reports. Bank of America lowered BCE from a "buy" rating to a "neutral" rating in a research report on Monday, March 14th. National Bank Financial raised their price objective on BCE from C$70.00 to C$71.00 in a research report on Friday, February 4th. CIBC raised their price objective on BCE from C$65.00 to C$67.00 in a research report on Friday, February 4th. StockNews.com initiated coverage on BCE in a research report on Thursday, March 31st. They set a "hold" rating for the company. Finally, Desjardins raised their price objective on BCE from C$68.00 to C$70.00 in a research report on Monday, May 9th.

BCE opened at $52.91 on Friday. The stock has a market cap of $48.24 billion, a PE ratio of 20.43, a PEG ratio of 4.79 and a beta of 0.47. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average of $55.17 and a 200-day moving average of $53.03. BCE has a 52 week low of $48.12 and a 52 week high of $59.34.

BCE (NYSE:BCE - Get Rating) (TSE:BCE) last released its earnings results on Thursday, May 5th. The utilities provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.06. The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.86 billion. BCE had a return on equity of 15.75% and a net margin of 12.85%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Equities analysts anticipate that BCE will post 2.64 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be paid a $0.715 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 5.41%. BCE's dividend payout ratio (DPR) is currently 110.81%.

Several hedge funds have recently added to or reduced their stakes in BCE. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of BCE in the 3rd quarter worth $333,780,000. National Bank of Canada FI purchased a new position in BCE during the fourth quarter valued at $236,372,000. Alberta Investment Management Corp lifted its position in BCE by 316.4% during the fourth quarter. Alberta Investment Management Corp now owns 5,197,850 shares of the utilities provider's stock valued at $270,808,000 after purchasing an additional 3,949,450 shares in the last quarter. Mufg Securities Canada LTD. lifted its position in BCE by 614.3% during the fourth quarter. Mufg Securities Canada LTD. now owns 3,455,505 shares of the utilities provider's stock valued at $179,970,000 after purchasing an additional 2,971,760 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in BCE by 92.6% during the first quarter. JPMorgan Chase & Co. now owns 3,795,311 shares of the utilities provider's stock valued at $210,487,000 after purchasing an additional 1,825,107 shares in the last quarter. Hedge funds and other institutional investors own 44.77% of the company's stock.

About BCE (Get Rating)

BCE Inc operates as a telecommunications and media company in Canada. The company offers wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers. It operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment provides wireless voice and data communication products and services, and consumer electronics products.

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Analyst Recommendations for BCE (NYSE:BCE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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