BCE (NYSE:BCE) Earns Hold Rating from Canaccord Genuity Group

BCE (NYSE:BCE) (TSE:BCE)‘s stock had its “hold” rating reissued by analysts at Canaccord Genuity Group in a research report issued on Tuesday, StockNewsAPI reports.

Several other analysts also recently commented on the company. BMO Capital Markets upped their price objective on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays reduced their target price on shares of BCE from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.33.

BCE Price Performance

Shares of NYSE:BCE opened at $28.74 on Tuesday. BCE has a one year low of $28.26 and a one year high of $41.77. The stock has a market capitalization of $26.22 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 5.36 and a beta of 0.59. The company has a 50-day simple moving average of $33.87 and a 200-day simple moving average of $33.64. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65.

Institutional Investors Weigh In On BCE

Hedge funds and other institutional investors have recently bought and sold shares of the business. ESL Trust Services LLC purchased a new position in shares of BCE in the 1st quarter valued at about $31,000. Massmutual Trust Co. FSB ADV grew its position in BCE by 3,480.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock worth $35,000 after buying an additional 1,044 shares during the period. Hexagon Capital Partners LLC increased its holdings in BCE by 121.2% in the third 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 Lisle Cummings Inc. lifted its position in shares of BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 600 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 1,268 shares in the last quarter. Institutional investors and hedge funds own 41.46% of the company’s stock.

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.