BCE (NYSE:BCE) Sets New 12-Month Low at $47.95

BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) reached a new 52-week low on Thursday . The stock traded as low as $47.95 and last traded at $48.03, with a volume of 85203 shares. The stock had previously closed at $49.49.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of BCE from C$69.00 to C$70.00 in a research note on Friday, May 6th. Bank of America lowered shares of BCE from a “buy” rating to a “neutral” rating in a research note on Monday, March 14th. Argus lifted their target price on shares of BCE from $54.00 to $60.00 in a research note on Wednesday, March 23rd. Desjardins lifted their target price on shares of BCE from C$68.00 to C$70.00 in a research note on Monday, May 9th. Finally, StockNews.com began coverage on shares of BCE in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $67.18.

The firm’s fifty day moving average price is $54.55 and its 200-day moving average price is $53.36. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market cap of $43.35 billion, a P/E ratio of 18.56, a P/E/G ratio of 4.74 and a beta of 0.46.

BCE (NYSE:BCEGet Rating) (TSE:BCE) last posted its quarterly earnings data on Thursday, May 5th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. BCE had a net margin of 12.85% and a return on equity of 15.75%. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that BCE Inc. will post 2.65 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be issued a dividend of $0.715 per share. The ex-dividend date is Tuesday, June 14th. This represents a $2.86 annualized dividend and a dividend yield of 6.02%. BCE’s payout ratio is 110.81%.

Several large investors have recently bought and sold shares of the company. J.W. Cole Advisors Inc. bought a new position in shares of BCE during the 1st quarter worth about $116,000. Kestra Private Wealth Services LLC increased its stake in BCE by 2.8% in the first quarter. Kestra Private Wealth Services LLC now owns 36,365 shares of the utilities provider’s stock valued at $2,017,000 after acquiring an additional 994 shares during the period. L.M. Kohn & Company bought a new stake in BCE in the first quarter valued at about $653,000. Advisory Services Network LLC increased its stake in BCE by 88.0% in the first quarter. Advisory Services Network LLC now owns 12,688 shares of the utilities provider’s stock valued at $704,000 after acquiring an additional 5,940 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in BCE by 42.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,606,761 shares of the utilities provider’s stock valued at $477,875,000 after acquiring an additional 2,562,806 shares during the period. Institutional investors own 44.77% of the company’s stock.

About BCE (NYSE:BCE)

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

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