BCE Inc. (NYSE:BCE) Given Consensus Rating of "Hold" by Analysts

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE has been given a consensus recommendation of "Hold" by the twelve research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $45.00.

A number of brokerages recently issued reports on BCE. Canaccord Genuity Group downgraded shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. BMO Capital Markets boosted their price target on BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a research report on Thursday, September 19th. Barclays cut their price target on shares of BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. National Bank Financial downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Finally, Edward Jones cut BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th.

BCE Stock Down 1.2 %

BCE traded down $0.29 during trading hours on Thursday, hitting $23.11. 5,085,441 shares of the company's stock were exchanged, compared to its average volume of 2,547,005. The firm has a market cap of $21.08 billion, a P/E ratio of 330.14, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54. BCE has a 12-month low of $23.03 and a 12-month high of $41.77. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The firm has a 50 day moving average of $28.72 and a 200 day moving average of $32.12.

BCE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.737 dividend. This is an increase from BCE's previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 12.76%. The ex-dividend date of this dividend is Monday, December 16th. BCE's dividend payout ratio is currently 4,214.29%.

Institutional Investors Weigh In On BCE

A number of large investors have recently added to or reduced their stakes in BCE. &PARTNERS bought a new stake in shares of BCE in the 2nd quarter worth approximately $298,000. Cypress Capital Group grew its holdings in BCE by 21.8% during the second quarter. Cypress Capital Group now owns 8,924 shares of the utilities provider's stock worth $289,000 after acquiring an additional 1,595 shares during the period. K.J. Harrison & Partners Inc boosted its holdings in BCE by 133.1% during the second quarter. K.J. Harrison & Partners Inc now owns 157,825 shares of the utilities provider's stock worth $5,109,000 after buying an additional 90,128 shares in the last quarter. Tobam raised its position in shares of BCE by 64.8% during the second quarter. Tobam now owns 21,030 shares of the utilities provider's stock worth $681,000 after purchasing an additional 8,266 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in shares of BCE by 9.6% in the second quarter. Crossmark Global Holdings Inc. now owns 109,811 shares of the utilities provider's stock worth $3,555,000 after acquiring an additional 9,609 shares in the last quarter. 41.46% of the stock is owned by institutional investors and hedge funds.

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.