BCE Inc. (NYSE:BCE) Receives $66.10 Average Price Target from Brokerages

BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) has been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $66.10.

A number of research firms have issued reports on BCE. Scotiabank lifted their price objective on shares of BCE from C$68.50 to C$69.00 in a report on Tuesday, September 6th. Barclays upped their price objective on shares of BCE from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, August 5th. Finally, Canaccord Genuity Group dropped their target price on shares of BCE from C$70.00 to C$66.00 in a research report on Friday, July 22nd.

BCE Stock Up 0.7 %

BCE stock opened at $46.23 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.36. The firm’s fifty day moving average price is $49.06 and its two-hundred day moving average price is $51.81. The firm has a market capitalization of $42.16 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 4.00 and a beta of 0.49. BCE has a 1-year low of $45.71 and a 1-year high of $59.34.

BCE (NYSE:BCEGet Rating) (TSE:BCE) last issued its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. BCE had a return on equity of 15.73% and a net margin of 12.40%. The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $5.87 billion. During the same period in the previous year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts predict that BCE will post 2.62 earnings per share for the current fiscal year.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Thursday, September 15th will be paid a $0.719 dividend. This is an increase from BCE’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.88 annualized dividend and a yield of 6.22%. BCE’s dividend payout ratio is presently 114.86%.

Institutional Trading of BCE

A number of large investors have recently bought and sold shares of BCE. Core Alternative Capital purchased a new stake in BCE in the 1st quarter worth about $42,000. Massmutual Trust Co. FSB ADV purchased a new stake in BCE during the second quarter valued at about $39,000. Coston McIsaac & Partners purchased a new stake in BCE during the second quarter valued at about $41,000. Ronald Blue Trust Inc. purchased a new stake in BCE during the second quarter valued at about $50,000. Finally, MBM Wealth Consultants LLC lifted its holdings in BCE by 53.3% during the fourth quarter. MBM Wealth Consultants LLC now owns 958 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 333 shares during the last quarter. 43.83% of the stock is owned by hedge funds and other institutional investors.

About BCE

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BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.

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