BCE (NYSE:BCE) PT Lowered to $34.00

BCE (NYSE:BCE - Free Report) TSE: BCE had its price target reduced by Barclays from $35.00 to $34.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the utilities provider's stock.

Several other brokerages have also recently weighed in on BCE. Cibc World Mkts raised BCE from a hold rating to a strong-buy rating in a report on Friday, August 2nd. BMO Capital Markets lifted their price objective on BCE from $48.00 to $51.00 and gave the company a market perform rating in a report on Thursday, September 19th. Finally, National Bank Financial cut BCE from a strong-buy rating to a hold rating in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $46.33.

BCE Stock Performance

Shares of NYSE BCE traded down $0.20 during midday trading on Wednesday, hitting $33.31. 1,462,892 shares of the company's stock were exchanged, compared to its average volume of 2,221,980. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 2.00. BCE has a 12 month low of $31.13 and a 12 month high of $41.77. The company's 50 day moving average price is $34.80 and its 200 day moving average price is $33.75. The firm has a market capitalization of $30.39 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 5.86 and a beta of 0.58.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to analysts' expectations of $4.46 billion. BCE had a return on equity of 17.10% and a net margin of 8.39%. During the same period last year, the firm posted $0.59 EPS. As a group, analysts predict that BCE will post 2.2 earnings per share for the current fiscal year.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $0.729 per share. The ex-dividend date is Monday, September 16th. This represents a $2.92 dividend on an annualized basis and a yield of 8.75%. BCE's dividend payout ratio is currently 204.86%.

Institutional Investors Weigh In On BCE

A number of hedge funds and other institutional investors have recently bought and sold shares of BCE. ESL Trust Services LLC acquired a new stake in shares of BCE in the first quarter valued at about $31,000. Livelsberger Financial Advisory acquired a new stake in shares of BCE in the fourth quarter valued at about $35,000. Massmutual Trust Co. FSB ADV increased its stake in shares of BCE by 3,480.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider's stock valued at $35,000 after buying an additional 1,044 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock valued at $43,000 after buying an additional 675 shares during the period. Finally, Brown Lisle Cummings Inc. increased 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 valued at $52,000 after buying an additional 600 shares during the period. 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.