Weiss Ratings Reiterates "Sell (D+)" Rating for BCE (NYSE:BCE)

Key Points

• Weiss Ratings has reiterated a "Sell (D+)" rating for BCE, indicating a negative outlook for the stock among analysts.
• BCE's recent quarterly earnings report showed earnings per share of $0.46, which fell short of analyst expectations of $0.52, with revenue also below estimates at $4.47 billion.
• Institutional investors are actively adjusting their stakes in BCE, with Caisse DE Depot ET Placement DU Quebec increasing its holdings by 36.1% during the first quarter.

BCE (NYSE:BCE - Get Free Report) TSE: BCE's stock had its "sell (d+)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other brokerages also recently commented on BCE. TD Securities reissued a "hold" rating on shares of BCE in a research note on Friday, August 8th. CIBC reiterated a "neutral" rating on shares of BCE in a report on Friday, August 22nd. National Bankshares reissued an "outperform" rating on shares of BCE in a research report on Friday, August 15th. Desjardins raised BCE from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Finally, Cibc World Mkts downgraded BCE from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued 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, BCE currently has an average rating of "Reduce" and an average price target of $32.50.

BCE Stock Down 0.2%

Shares of NYSE BCE traded down $0.05 during midday trading on Wednesday, reaching $23.24. The company's stock had a trading volume of 3,195,097 shares, compared to its average volume of 3,211,456. 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 has a fifty-two week low of $20.28 and a fifty-two week high of $33.85. The stock has a market capitalization of $21.67 billion, a price-to-earnings ratio of 80.14, a PEG ratio of 3.91 and a beta of 0.63. The stock has a 50 day simple moving average of $24.13 and a 200-day simple moving average of $22.95.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.06). BCE had a net margin of 1.96% and a return on equity of 18.89%. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last 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. Equities research analysts predict that BCE will post 1.94 earnings per share for the current year.

Hedge Funds Weigh In On BCE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of BCE by 36.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 25,249,300 shares of the utilities provider's stock worth $579,458,000 after buying an additional 6,697,900 shares during the period. Vanguard Group Inc. increased its holdings in shares of BCE by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 16,101,336 shares of the utilities provider's stock valued at $369,574,000 after acquiring an additional 222,432 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of BCE by 50.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 14,181,568 shares of the utilities provider's stock worth $325,559,000 after purchasing an additional 4,783,232 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of BCE by 99.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,006,153 shares of the utilities provider's stock worth $310,682,000 after purchasing an additional 6,981,281 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in BCE by 170.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,679,620 shares of the utilities provider's stock worth $268,164,000 after acquiring an additional 7,365,253 shares during the period. 41.46% of the stock is owned by institutional investors.

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.

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 contact@marketbeat.com.