BCE Inc. (BCE) Sees Large Volume Increase
BCE Inc. (NYSE:BCE) saw unusually-strong trading volume on Monday . Approximately 1,403,569 shares traded hands during mid-day trading, an increase of 36% from the previous session’s volume of 1,034,393 shares.The stock last traded at $47.16 and had previously closed at $46.95.
Several research analysts have recently issued reports on BCE shares. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Tuesday, April 19th. Canaccord Genuity restated a “buy” rating on shares of BCE in a research note on Tuesday, March 29th. Citigroup Inc. cut BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 26th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of BCE in a research note on Sunday, May 1st. Finally, Scotiabank cut BCE from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $59.00 to $60.00 in a research note on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $52.67.
The company’s 50 day moving average is $46.66 and its 200 day moving average is $44.10. The firm has a market cap of $40.97 billion and a P/E ratio of 19.38.
BCE (NYSE:BCE) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.33 billion. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. On average, equities research analysts anticipate that BCE Inc. will post $3.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $0.5383 per share. This represents a $2.15 dividend on an annualized basis and a dividend yield of 4.56%. This is a positive change from BCE’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, June 13th.
Other hedge funds and institutional investors have modified their holdings of the company. Stephens Inc. AR raised 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 worth $6,416,000 after buying an additional 7,302 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of BCE during the fourth quarter worth $1,449,000. 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 in 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 in the last quarter. Finally, Ashfield Capital Partners LLC raised its position in shares of BCE by 1.1% in the fourth quarter. Ashfield Capital Partners LLC now owns 28,090 shares of the company’s stock worth $1,085,000 after buying an additional 300 shares in 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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