BCE (NYSE:BCE) Stock Price Up 0.1% - Should You Buy?

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE was up 0.1% during trading on Friday . The stock traded as high as $23.89 and last traded at $23.66. Approximately 498,470 shares changed hands during trading, a decline of 86% from the average daily volume of 3,556,999 shares. The stock had previously closed at $23.63.

Analyst Ratings Changes

Several research analysts have recently commented on BCE shares. Bank of America lowered BCE from a "neutral" rating to an "underperform" rating in a report on Tuesday, January 14th. Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. downgraded BCE from a "neutral" rating to an "underweight" rating in a research report on Friday, February 7th. Barclays reiterated an "underweight" rating on shares of BCE in a research report on Tuesday, January 21st. Finally, Morgan Stanley initiated coverage on BCE in a research report on Monday, December 16th. They issued an "underweight" rating for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BCE has an average rating of "Hold" and a consensus price target of $40.50.

BCE Stock Performance

The company has a market capitalization of $21.37 billion, a PE ratio of 195.22, a PEG ratio of 4.10 and a beta of 0.57. The company has a 50 day moving average of $23.46 and a two-hundred day moving average of $29.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last issued its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. As a group, equities research analysts predict that BCE Inc. will post 1.94 earnings per share for the current year.

BCE Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.6965 dividend. This represents a $2.79 annualized dividend and a dividend yield of 11.89%. The ex-dividend date of this dividend is Friday, March 14th. BCE's dividend payout ratio is presently 2,350.00%.

Hedge Funds Weigh In On BCE

Several large investors have recently modified their holdings of the stock. Allworth Financial LP grew its stake in shares of BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 790 shares during the period. WealthCollab LLC bought a new position in BCE in the 4th quarter worth approximately $27,000. Blue Trust Inc. boosted its stake in BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after purchasing an additional 1,285 shares during the period. Brown Brothers Harriman & Co. bought a new position in BCE in the 3rd quarter worth approximately $51,000. Finally, Legacy Investment Solutions LLC bought a new position in BCE in the 3rd quarter worth approximately $65,000. Hedge funds and other 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.