BCE (NYSE:BCE) Stock Rating Lowered by Bank of America

BCE (NYSE:BCE) (TSE:BCE) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday,Briefing.com Automated Import reports.

BCE has been the subject of several other reports. Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley began coverage on BCE in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets upped their target price on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

BCE Stock Up 1.0 %

BCE opened at $23.19 on Tuesday. The company has a 50 day moving average of $25.49 and a 200 day moving average of $30.88. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. BCE has a 12 month low of $22.18 and a 12 month high of $41.77. The company has a market cap of $21.16 billion, a PE ratio of 331.29, a price-to-earnings-growth ratio of 4.04 and a beta of 0.56.

Hedge Funds Weigh In On BCE

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC raised its position in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after buying an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in BCE during the third quarter valued at about $51,000. Bruce G. Allen Investments LLC lifted its stake in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 1,268 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of BCE in the 3rd quarter worth about $65,000. Finally, Fairscale Capital LLC purchased a new position in shares of BCE in the 2nd quarter worth about $76,000. Hedge funds and other institutional investors own 41.46% of the company’s stock.

About BCE

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.