BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE shares gapped down prior to trading on Tuesday . The stock had previously closed at $23.21, but opened at $22.61. BCE shares last traded at $22.58, with a volume of 365,670 shares.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on BCE. Canaccord Genuity Group reissued a "hold" rating on shares of BCE in a report on Tuesday, November 5th. Morgan Stanley initiated coverage on shares of BCE in a research note on Monday, December 16th. They set an "underweight" rating on the stock. Canaccord Genuity Group lowered BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Edward Jones downgraded BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, Barclays cut their price objective on BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $45.00.
Read Our Latest Analysis on BCE
BCE Stock Performance
The company has a market cap of $20.58 billion, a PE 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 firm's 50 day moving average is $25.49 and its 200-day moving average is $30.88.
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 represents a $2.95 annualized dividend and a dividend yield of 13.07%. The ex-dividend date is Monday, December 16th. This is a boost from BCE's previous quarterly dividend of $0.73. BCE's dividend payout ratio (DPR) is currently 4,028.57%.
Hedge Funds Weigh In On BCE
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCE. Hexagon Capital Partners LLC boosted its position in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 675 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in BCE during the third quarter worth about $51,000. Bruce G. Allen Investments LLC boosted its holdings in BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock valued at $58,000 after purchasing an additional 1,268 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of BCE in the 3rd quarter valued at approximately $65,000. Finally, Fairscale Capital LLC acquired a new stake in shares of BCE during the 2nd quarter worth approximately $76,000. Institutional investors and hedge funds own 41.46% of the company's stock.
BCE Company Profile
(
Get Free Report)
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.
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