Canaccord Genuity Group Reaffirms Hold Rating for BCE (NYSE:BCE)

BCE (NYSE:BCE - Get Free Report) TSE: BCE's stock had its "hold" rating restated by research analysts at Canaccord Genuity Group in a note issued to investors on Tuesday, StockNewsAPI reports.

A number of other research firms also recently commented on BCE. Edward Jones downgraded shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday. BMO Capital Markets boosted their target price on shares of BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a report on Thursday, September 19th. Barclays dropped their target price on shares of BCE from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 9th. National Bank Financial downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Finally, Canaccord Genuity Group lowered shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $46.33.

BCE Price Performance

Shares of BCE stock traded down $0.28 during midday trading on Tuesday, reaching $28.84. 4,289,150 shares of the company were exchanged, compared to its average volume of 2,234,993. BCE has a 12 month low of $28.64 and a 12 month high of $41.77. The company has a market cap of $26.31 billion, a P/E ratio of 18.14, a PEG ratio of 5.36 and a beta of 0.59. The company's 50 day moving average price is $34.00 and its two-hundred day moving average price is $33.68. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65.

Institutional Investors Weigh In On BCE

A number of large investors have recently made changes to their positions in the company. Intact Investment Management Inc. grew its position in BCE by 66.4% during the third quarter. Intact Investment Management Inc. now owns 1,360,980 shares of the utilities provider's stock valued at $47,320,000 after purchasing an additional 543,320 shares in the last quarter. Pathway Financial Advisers LLC grew its position in BCE by 3,355.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,852,025 shares of the utilities provider's stock valued at $64,450,000 after purchasing an additional 1,798,427 shares in the last quarter. CIBC Asset Management Inc grew its position in BCE by 23.8% during the second quarter. CIBC Asset Management Inc now owns 5,520,090 shares of the utilities provider's stock valued at $178,677,000 after purchasing an additional 1,061,488 shares in the last quarter. Creative Planning grew its position in BCE by 116.0% during the second quarter. Creative Planning now owns 56,099 shares of the utilities provider's stock valued at $1,816,000 after purchasing an additional 30,125 shares in the last quarter. Finally, &PARTNERS purchased a new position in BCE during the second quarter valued at approximately $298,000. Institutional investors and hedge funds 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.