BCE (NYSE:BCE) Earns Buy Rating from Scotiabank

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BCE (NYSE:BCE) (TSE:BCE)‘s stock had its “buy” rating reissued by investment analysts at Scotiabank in a research note issued on Friday, TipRanks reports.

Several other equities research analysts have also recently weighed in on BCE. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, July 30th. Citigroup cut shares of BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. TD Securities raised shares of BCE from a “hold” rating to a “buy” rating and set a $44.38 target price for the company in a research report on Tuesday, June 18th. Barclays reaffirmed an “average” rating and issued a $66.00 target price on shares of BCE in a research report on Sunday, May 5th. Finally, JPMorgan Chase & Co. cut shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $54.90.

BCE traded up $0.09 during trading on Friday, hitting $46.83. 47,012 shares of the stock traded hands, compared to its average volume of 826,725. The firm has a market capitalization of $41.78 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 4.93 and a beta of 0.41. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.57 and a quick ratio of 0.53. The firm has a 50-day moving average of $45.97 and a 200 day moving average of $44.97. BCE has a 12-month low of $38.75 and a 12-month high of $47.14.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.90 billion. BCE had a net margin of 12.51% and a return on equity of 19.15%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. As a group, equities analysts predict that BCE will post 2.69 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of BCE. Comerica Securities Inc. lifted its holdings in BCE by 54.0% in the 4th quarter. Comerica Securities Inc. now owns 19,361 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 6,786 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of BCE by 9.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 74,256 shares of the utilities provider’s stock valued at $2,935,000 after buying an additional 6,232 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BCE by 35.2% during the fourth quarter. Geode Capital Management LLC now owns 487,720 shares of the utilities provider’s stock valued at $20,316,000 after buying an additional 127,060 shares in the last quarter. Pennsylvania Trust Co purchased a new position in shares of BCE during the first quarter valued at $396,000. Finally, CWM LLC grew its holdings in shares of BCE by 136.4% during the first quarter. CWM LLC now owns 71,219 shares of the utilities provider’s stock valued at $3,161,000 after buying an additional 41,097 shares in the last quarter. Institutional investors own 44.54% of the company’s stock.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Analyst Recommendations for BCE (NYSE:BCE)

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