BCE Inc. (BCE) Sets New 52-Week High at $48.10
BCE Inc. (NYSE:BCE) reached a new 52-week high during trading on Tuesday . The stock traded as high as $48.10 and last traded at $48.09, with a volume of 1,249,540 shares. The stock had previously closed at $47.17.
A number of brokerages have issued reports on BCE. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Tuesday, April 19th. Canaccord Genuity reiterated a “buy” rating on shares of BCE in a research note on Thursday, April 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of BCE in a research note on Thursday, June 9th. Scotiabank lowered BCE from a “sector outperform” rating to a “sector perform” rating and increased their price target for the stock from $59.00 to $60.00 in a research note on Friday, April 22nd. Finally, Citigroup Inc. lowered BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. BCE presently has an average rating of “Hold” and an average target price of $52.67.
The company has a market capitalization of $41.75 billion and a price-to-earnings ratio of 19.7494. The company’s 50-day moving average is $46.66 and its 200-day moving average is $44.10.
BCE (NYSE:BCE) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts forecast that BCE Inc. will post $3.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $0.5383 per share. The ex-dividend date of this dividend is Monday, June 13th. This represents a $2.15 annualized dividend and a dividend yield of 4.56%. This is an increase from BCE’s previous quarterly dividend of $0.49.
Several large investors recently bought and sold shares of BCE. Ashfield Capital Partners LLC increased its stake in BCE by 1.1% in the fourth quarter. Ashfield Capital Partners LLC now owns 28,090 shares of the company’s stock valued at $1,085,000 after buying an additional 300 shares during the last quarter. Trexquant Investment LP bought a new stake in BCE during the fourth quarter valued at approximately $1,449,000. Advisors Asset Management Inc. increased its stake in BCE by 35.4% in the fourth quarter. Advisors Asset Management Inc. now owns 37,999 shares of the company’s stock valued at $1,468,000 after buying an additional 9,938 shares during the last quarter. Lipe & Dalton increased its stake in BCE by 3.3% in the fourth quarter. Lipe & Dalton now owns 41,240 shares of the company’s stock valued at $1,593,000 after buying an additional 1,300 shares during the last quarter. Finally, Alley Co LLC increased its stake in BCE by 1.6% in the fourth quarter. Alley Co LLC now owns 53,582 shares of the company’s stock valued at $2,069,000 after buying an additional 849 shares during the last quarter.
BCE Inc is a communications company. The Company provides residential, business and wholesale customers with a range of solutions to all their communications needs, including wireless, high-speed Internet, Internet protocol television (IPTV) and satellite TV, business Internet protocol (IP) broadband, and information and communications technology (ICT) services.
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