BCE (NYSE:BCE) Shares Up 0.4% - What's Next?

Shares of BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE were up 0.4% during mid-day trading on Tuesday . The company traded as high as $22.59 and last traded at $22.60. Approximately 523,726 shares were traded during trading, a decline of 85% from the average daily volume of 3,610,732 shares. The stock had previously closed at $22.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BCE shares. Barclays reiterated an "underweight" rating on shares of BCE in a report on Tuesday, January 21st. Morgan Stanley started coverage on BCE in a report on Monday, December 16th. They set an "underweight" rating for the company. JPMorgan Chase & Co. cut BCE from a "neutral" rating to an "underweight" rating in a report on Friday, February 7th. Canaccord Genuity Group cut BCE from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Finally, Bank of America cut BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BCE presently has an average rating of "Hold" and an average price target of $40.50.

BCE Price Performance

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 company has a market cap of $21.76 billion, a P/E ratio of 198.79, a PEG ratio of 3.91 and a beta of 0.57. The company has a fifty day moving average price of $23.69 and a two-hundred day moving average price of $29.46.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. On average, sell-side analysts anticipate that BCE Inc. will post 2 earnings per share for the current fiscal year.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.6965 per share. This represents a $2.79 dividend on an annualized basis and a yield of 11.68%. The ex-dividend date is Friday, March 14th. BCE's payout ratio is currently 2,350.00%.

Hedge Funds Weigh In On BCE

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in BCE by 217.6% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock worth $27,000 after acquiring an additional 790 shares during the last quarter. WealthCollab LLC acquired a new stake in BCE during the fourth quarter worth approximately $27,000. Blue Trust Inc. lifted its position in BCE by 1,147.3% during the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after acquiring an additional 1,285 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock worth $46,000 after acquiring an additional 799 shares during the last quarter. Finally, Vision Financial Markets LLC acquired a new stake in BCE during the fourth quarter worth approximately $49,000. Institutional investors own 41.46% of the company's stock.

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.