BCE Inc. (NYSE:BCE) Given Average Rating of “Reduce” by Brokerages

Shares of BCE Inc. (NYSE:BCE) (TSE:BCE) have been given a consensus rating of “Reduce” by the thirteen analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $40.00.

BCE has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded shares of BCE from a “neutral” rating to an “underweight” rating in a research note on Friday, February 7th. Morgan Stanley assumed coverage on shares of BCE in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. National Bankshares reaffirmed a “sector perform” rating on shares of BCE in a research report on Tuesday, March 11th. Bank of America cut shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $39.00 price target on shares of BCE in a research note on Tuesday, February 25th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BCE. Bernard Wealth Management Corp. bought a new stake in shares of BCE in the 4th quarter worth about $26,000. Allworth Financial LP boosted its position 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 buying an additional 790 shares in the last quarter. WealthCollab LLC bought a new stake in BCE during the fourth quarter worth about $27,000. Blue Trust Inc. increased its holdings in shares of BCE by 1,147.3% during the fourth 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of BCE by 67.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after buying an additional 799 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Stock Performance

Shares of BCE opened at $22.96 on Friday. The company has a market capitalization of $21.16 billion, a PE ratio of 191.29, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. 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 has a one year low of $21.87 and a one year high of $36.17. The company’s fifty day moving average price is $23.59 and its 200 day moving average price is $27.07.

BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a return on equity of 17.89% and a net margin of 0.99%. As a group, analysts expect that BCE will post 1.94 earnings per share for the current year.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.6965 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.79 annualized dividend and a dividend yield of 12.14%. BCE’s dividend payout ratio (DPR) is presently 2,291.67%.

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.