BCE (NYSE:BCE) Sees Large Volume Increase

BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) shares saw strong trading volume on Friday . 46,226 shares traded hands during mid-day trading, a decline of 97% from the previous session’s volume of 1,447,771 shares.The stock last traded at $47.72 and had previously closed at $47.52.

Several equities research analysts have issued reports on the stock. Argus lifted their price target on shares of BCE from $54.00 to $60.00 in a research note on Wednesday, March 23rd. Bank of America downgraded shares of BCE from a “buy” rating to a “neutral” rating in a research report on Monday, March 14th. Canaccord Genuity Group decreased their price objective on shares of BCE from C$71.00 to C$70.00 and set a “hold” rating for the company in a research report on Friday, May 6th. Desjardins lifted their price objective on shares of BCE from C$68.00 to C$70.00 in a research report on Monday, May 9th. Finally, StockNews.com assumed coverage on shares of BCE in a report on Thursday, March 31st. They set a “hold” rating for the company. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.18.

The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.65. The stock has a market cap of $43.16 billion, a P/E ratio of 18.35, a P/E/G ratio of 4.47 and a beta of 0.46. The stock’s fifty day simple moving average is $54.35 and its 200-day simple moving average is $53.33.

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, beating analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.86 billion. BCE had a net margin of 12.85% and a return on equity of 15.75%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, equities research analysts forecast that BCE Inc. will post 2.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Tuesday, June 14th. BCE’s payout ratio is presently 111.20%.

Several large investors have recently modified their holdings of the company. Capital Research Global Investors raised its position in shares of BCE by 2.2% in the 4th quarter. Capital Research Global Investors now owns 30,063,234 shares of the utilities provider’s stock valued at $1,564,063,000 after buying an additional 651,805 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in BCE by 53.5% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,375,600 shares of the utilities provider’s stock worth $742,107,000 after purchasing an additional 4,661,300 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new position in BCE during the 1st quarter worth approximately $12,960,000. Vanguard Group Inc. increased its position in BCE by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 12,312,482 shares of the utilities provider’s stock worth $682,849,000 after purchasing an additional 504,219 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in BCE by 6.1% during the 1st quarter. 1832 Asset Management L.P. now owns 11,423,037 shares of the utilities provider’s stock worth $625,390,000 after purchasing an additional 659,781 shares in the last quarter. Institutional investors own 44.77% of the company’s stock.

BCE Company Profile (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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