BCE (NYSE:BCE) Cut to "Hold" at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of BCE (NYSE:BCE - Free Report) TSE: BCE from a buy rating to a hold rating in a research note issued to investors on Tuesday, Briefing.com reports.

Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research report on Thursday, September 19th. Cibc World Mkts upgraded shares of BCE from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 2nd. National Bank Financial cut BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Barclays lowered their target price on BCE from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Wednesday, October 9th. Finally, Edward Jones lowered BCE from a "buy" rating to a "hold" rating in a research note on Tuesday. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, BCE has a consensus rating of "Hold" and a consensus target price of $46.33.

BCE Stock Performance

Shares of BCE stock traded down $0.20 during trading on Tuesday, reaching $28.92. The company's stock had a trading volume of 3,647,992 shares, compared to its average volume of 2,231,997. The business's fifty day moving average price is $34.13 and its 200-day moving average price is $33.70. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65. The firm has a market cap of $26.38 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 5.36 and a beta of 0.59. BCE has a one year low of $28.64 and a one year high of $41.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ESL Trust Services LLC purchased a new stake in BCE during the 1st quarter valued at about $31,000. Massmutual Trust Co. FSB ADV increased its stake in shares of BCE by 3,480.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 1,044 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of BCE by 121.2% during the third 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 Lisle Cummings Inc. lifted its stake in shares of BCE by 60.0% in the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider's stock worth $52,000 after buying an additional 600 shares in the last quarter. Finally, Bruce G. Allen Investments LLC boosted its position in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock worth $58,000 after acquiring an additional 1,268 shares during the last quarter. 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.