BCE Inc. (NYSE:BCE) Given Consensus Recommendation of “Reduce” by Brokerages

BCE Inc. (NYSE:BCE) (TSE:BCE) has earned a consensus rating of “Reduce” from the twelve analysts that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have given a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $40.50.

Several research firms have recently commented on BCE. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Barclays reiterated an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Bank of America cut BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Morgan Stanley initiated coverage on BCE in a research note on Monday, December 16th. They set an “underweight” rating on the stock. Finally, Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP grew its holdings in BCE by 217.6% in the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 790 shares during the period. Hexagon Capital Partners LLC grew its stake 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 during the period. Blue Trust Inc. increased its holdings in shares of BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,285 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of BCE in the 3rd quarter worth $51,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 1,268 shares during the last quarter. Institutional investors and hedge funds own 41.46% of the company’s stock.

BCE Stock Performance

NYSE BCE opened at $22.88 on Friday. The business has a 50 day moving average price of $23.92 and a 200 day moving average price of $29.62. The company has a market capitalization of $20.87 billion, a P/E ratio of 190.63, a PEG ratio of 3.91 and a beta of 0.57. BCE has a 1-year low of $21.87 and a 1-year high of $38.21. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. Sell-side analysts expect that BCE will post 2 EPS for the current fiscal year.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $0.6965 dividend. This represents a $2.79 dividend on an annualized basis and a yield of 12.18%. The ex-dividend date is Friday, March 14th. BCE’s payout ratio is 2,283.33%.

BCE Company Profile

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.