BCE Inc. (BCE) Shares Gap Up to $47.54
BCE Inc. (NYSE:BCE) gapped up prior to trading on Friday . The stock had previously closed at $47.53, but opened at $47.54. BCE shares last traded at $47.93, with a volume of 685,702 shares trading hands.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Scotiabank lowered BCE from a “sector outperform” rating to a “sector perform” rating and raised their target price for the company from $59.00 to $60.00 in a research report on Friday, April 22nd. Canaccord Genuity reaffirmed a “buy” rating on shares of BCE in a research report on Thursday, April 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of BCE in a research report on Thursday, June 9th. Finally, Citigroup Inc. raised their target price on BCE from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $54.14.
The stock has a market capitalization of $41.60 billion and a P/E ratio of 20.02. The firm has a 50-day moving average of $47.16 and a 200-day moving average of $44.87.
BCE (NYSE:BCE) last released its earnings results 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 earned $5.27 billion during the quarter, compared to the consensus estimate of $5.33 billion. The company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. Analysts forecast that BCE Inc. will post $2.65 earnings per share for the current fiscal year.
A number of large investors recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in BCE by 2.2% in the fourth quarter. Morgan Stanley now owns 2,922,854 shares of the company’s stock valued at $112,881,000 after buying an additional 63,256 shares during the period. Trexquant Investment LP bought a new stake in BCE during the fourth quarter valued at approximately $1,449,000. Sei Investments Co. increased its stake in BCE by 91.6% in the fourth quarter. Sei Investments Co. now owns 63,158 shares of the company’s stock valued at $2,439,000 after buying an additional 30,191 shares during the period. 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 period. Finally, Stephens Inc. AR increased its stake in BCE by 4.6% in the fourth quarter. Stephens Inc. AR now owns 166,119 shares of the company’s stock valued at $6,416,000 after buying an additional 7,302 shares during the period.
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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