BCE Inc. (BCE) Reaches New 52-Week High at $48.10
BCE Inc. (NYSE:BCE) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $48.10 and last traded at $48.09, with a volume of 1,249,540 shares trading hands. The stock had previously closed at $47.17.
A number of research analysts recently commented on BCE shares. 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 research note on Tuesday, April 19th. Canaccord Genuity reaffirmed a “buy” rating on shares of BCE in a research note on Tuesday, March 29th. Citigroup Inc. downgraded BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of BCE in a research note on Sunday, May 1st. Finally, Scotiabank downgraded BCE from a “sector outperform” rating to a “sector perform” rating and boosted their price target for the company 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 given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.67.
The stock has a market cap of $41.94 billion and a P/E ratio of 19.84. The firm has a 50 day moving average of $46.77 and a 200-day moving average of $44.16.
BCE (NYSE:BCE) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.33 billion. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that BCE Inc. will post $3.50 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be given a dividend of $0.5383 per share. This is a boost from BCE’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, June 13th. This represents a $2.15 annualized dividend and a dividend yield of 4.46%.
Several large investors have recently added to or reduced their stakes in the stock. Ashfield Capital Partners LLC raised 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 in the last quarter. Trexquant Investment LP bought a new position in shares of BCE during the fourth quarter worth about $1,449,000. Advisors Asset Management Inc. boosted 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. Lipe & Dalton boosted 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. Finally, Alley Co LLC boosted its position in shares of BCE by 1.6% in the fourth quarter. Alley Co LLC now owns 53,582 shares of the company’s stock worth $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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