BCE Inc. (BCE) Shares Gap Up to $47.54
BCE Inc. (NYSE:BCE)’s share price gapped up before the market opened 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.
BCE has been the subject of several research reports. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Tuesday, April 19th. Citigroup Inc. cut BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of BCE in a report on Sunday, May 1st. Canaccord Genuity reissued a “buy” rating on shares of BCE in a report on Thursday, April 28th. Finally, Scotiabank cut BCE from a “sector outperform” rating to a “sector perform” rating and boosted their price target for the stock from $59.00 to $60.00 in a report on Friday, April 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $54.14.
The company’s 50 day moving average price is $47.16 and its 200 day moving average price is $44.87. The firm has a market capitalization of $41.60 billion and a price-to-earnings ratio of 20.02.
BCE (NYSE:BCE) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business earned $5.27 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period last year, the company earned $0.84 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts expect that BCE Inc. will post $2.68 EPS for the current year.
A number of institutional investors have recently modified their holdings of the stock. Comerica Bank raised its position in shares of BCE by 4.8% in the fourth quarter. Comerica Bank now owns 57,608 shares of the company’s stock worth $2,209,000 after buying an additional 2,644 shares during the last quarter. Morgan Stanley raised its position in shares of BCE by 2.2% in the fourth quarter. Morgan Stanley now owns 2,922,854 shares of the company’s stock worth $112,881,000 after buying an additional 63,256 shares during the last quarter. Lipe & Dalton raised its position in shares of BCE by 3.3% in the fourth quarter. Lipe & Dalton now owns 41,240 shares of the company’s stock worth $1,593,000 after buying an additional 1,300 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of BCE by 35.4% in the fourth quarter. Advisors Asset Management Inc. now owns 37,999 shares of the company’s stock worth $1,468,000 after buying an additional 9,938 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of BCE during the fourth quarter worth about $1,449,000.
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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