BCE Inc. (BCE) Reaches New 1-Year High at $48.91
BCE Inc. (NYSE:BCE) reached a new 52-week high on Friday . The company traded as high as $48.91 and last traded at $48.74, with a volume of 279,499 shares trading hands. The stock had previously closed at $48.70.
BCE has been the subject of a number of recent analyst reports. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $52.00 price target 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 reaffirmed an “outperform” rating and set a $61.00 price target on shares of BCE in a report on Sunday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $66.00 price target (up from $62.00) on shares of BCE in a report on Sunday, August 7th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $65.00 price target on shares of BCE in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. BCE presently has an average rating of “Hold” and an average target price of $57.40.
The company has a market cap of $42.40 billion and a price-to-earnings ratio of 20.33. The stock has a 50-day moving average of $47.66 and a 200-day moving average of $45.53.
BCE (NYSE:BCE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.10 billion. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. Equities research analysts anticipate that BCE Inc. will post $2.70 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 13th. This represents a $2.08 annualized dividend and a yield of 4.27%.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. Bridgewater Associates LP increased its position in shares of BCE by 93.4% in the fourth quarter. Bridgewater Associates LP now owns 772,300 shares of the company’s stock valued at $29,722,000 after buying an additional 372,900 shares in the last quarter. Stephens Inc. AR increased its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of BCE by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 58,854 shares of the company’s stock valued at $2,273,000 after buying an additional 525 shares in the last quarter. Advisors Asset Management Inc. increased 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 valued at $1,468,000 after buying an additional 9,938 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of BCE during the fourth quarter valued at approximately $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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