Bank of America Downgrades BCE (NYSE:BCE) to Underperform

BCE (NYSE:BCE - Get Free Report) TSE: BCE was downgraded by Bank of America from a "neutral" rating to an "underperform" rating in a research note issued to investors on Tuesday, MarketBeat.com reports.

Other research analysts have also issued reports about the stock. BMO Capital Markets lifted their price objective on shares of BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, September 19th. Canaccord Genuity Group reiterated a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. National Bank Financial lowered BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Edward Jones cut BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $45.00.

BCE Stock Performance

NYSE BCE traded down $0.65 during trading on Tuesday, hitting $22.56. 5,908,419 shares of the company's stock traded hands, compared to its average volume of 3,639,273. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 322.29, a PEG ratio of 4.04 and a beta of 0.56. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The business has a 50 day moving average of $25.36 and a 200-day moving average of $30.81. BCE has a 12-month low of $21.87 and a 12-month high of $41.77.

Institutional Investors Weigh In On BCE

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC grew its stake in shares of BCE by 166.1% during the second quarter. Parallel Advisors LLC now owns 9,156 shares of the utilities provider's stock valued at $296,000 after buying an additional 5,715 shares during the last quarter. Rathbones Group PLC grew its position in BCE by 2.6% during the 2nd quarter. Rathbones Group PLC now owns 62,332 shares of the utilities provider's stock worth $2,018,000 after acquiring an additional 1,597 shares during the last quarter. Virtu Financial LLC lifted its position in BCE by 3.3% in the second quarter. Virtu Financial LLC now owns 47,584 shares of the utilities provider's stock valued at $1,540,000 after purchasing an additional 1,541 shares during the last quarter. Wealth Advisors of Tampa Bay LLC increased its stake in shares of BCE by 9.2% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 35,558 shares of the utilities provider's stock worth $1,151,000 after buying an additional 2,990 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in BCE by 6.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 27,614 shares of the utilities provider's stock valued at $894,000 after buying an additional 1,779 shares during the last quarter. 41.46% of the stock is currently 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.