BCE Inc. (NYSE:BCE) Receives $40.00 Consensus Target Price from Brokerages

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE has been given an average rating of "Reduce" by the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $40.00.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $39.00 price target on shares of BCE in a report on Tuesday, February 25th. Morgan Stanley assumed coverage on BCE in a research note on Monday, December 16th. They issued an "underweight" rating on the stock. JPMorgan Chase & Co. downgraded shares of BCE from a "neutral" rating to an "underweight" rating in a research report on Friday, February 7th. Bank of America downgraded BCE from a "neutral" rating to an "underperform" rating in a research note on Tuesday, January 14th. Finally, Barclays reissued an "underweight" rating on shares of BCE in a research report on Tuesday, January 21st.

BCE Stock Up 2.0 %

NYSE BCE traded up $0.49 during trading hours on Tuesday, reaching $24.98. 2,026,967 shares of the company's stock were exchanged, compared to its average volume of 3,206,844. The company's 50-day moving average is $23.47 and its two-hundred day moving average is $28.35. The company has a market capitalization of $23.02 billion, a price-to-earnings ratio of 208.13, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. BCE has a one year low of $21.87 and a one year high of $36.94.

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BCE (NYSE:BCE - Get Free Report) TSE: BCE last issued its earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. On average, analysts forecast that BCE will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $0.6965 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.79 dividend on an annualized basis and a yield of 11.15%. BCE's payout ratio is presently 2,291.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board increased its stake in BCE by 623.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 9,398,336 shares of the utilities provider's stock worth $217,573,000 after purchasing an additional 8,100,000 shares during the period. Norges Bank purchased a new stake in shares of BCE during the fourth quarter worth about $87,643,000. Bank of Nova Scotia increased its position in shares of BCE by 22.2% in the 4th quarter. Bank of Nova Scotia now owns 19,945,799 shares of the utilities provider's stock valued at $462,262,000 after acquiring an additional 3,624,953 shares during the period. Toronto Dominion Bank lifted its holdings in shares of BCE by 34.4% during the fourth quarter. Toronto Dominion Bank now owns 10,569,646 shares of the utilities provider's stock worth $244,692,000 after purchasing an additional 2,706,839 shares during the period. Finally, FIL Ltd boosted its holdings in BCE by 9.7% in the fourth quarter. FIL Ltd now owns 26,292,783 shares of the utilities provider's stock valued at $609,465,000 after purchasing an additional 2,322,474 shares during the last quarter. Institutional investors own 41.46% of the company's stock.

About BCE

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.