BCE Inc. (BCE) Sets New 12-Month High at $48.91
BCE Inc. (NYSE:BCE) shares hit a new 52-week high on Friday . The stock traded as high as $48.91 and last traded at $48.74, with a volume of 279,499 shares traded. The stock had previously closed at $48.70.
BCE has been the subject of several analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $66.00 price objective (up from $62.00) on shares of BCE in a research report on Sunday, August 7th. Desjardins reiterated a “hold” rating and issued a $64.00 price objective on shares of BCE in a research report on Wednesday. Citigroup Inc. lowered BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 26th. Zacks Investment Research lowered BCE from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $65.00 price objective on shares of BCE in a research report on Friday, August 5th. Two equities research 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. The company currently has a consensus rating of “Hold” and a consensus target price of $57.40.
The company has a market cap of $42.37 billion and a price-to-earnings ratio of 20.0599. The stock’s 50 day moving average is $47.61 and its 200 day moving average is $45.46.
BCE (NYSE:BCE) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.03. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.10 billion. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that BCE Inc. will post $2.70 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be paid a $0.52 dividend. 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 have recently added to or reduced their stakes in the company. Trexquant Investment LP purchased a new stake in BCE during the fourth quarter valued at approximately $1,449,000. Advisors Asset Management Inc. boosted 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 last quarter. Dimensional Fund Advisors LP boosted its stake in 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 during the last quarter. Stephens Inc. AR boosted 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 last quarter. Finally, Bridgewater Associates LP boosted its stake in 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 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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