BCE (NYSE:BCE) Rating Increased to Strong-Buy at Cibc Captl Mkts

by · The Markets Daily

BCE (NYSE:BCE – Get Free Report) (TSE:BCE) was upgraded by equities researchers at Cibc Captl Mkts from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Barclays dropped their price target on BCE from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Wall Street Zen upgraded shares of BCE from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Royal Bank Of Canada raised BCE from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $35.00 to $37.00 in a report on Wednesday, October 15th. CIBC upgraded BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday. Finally, National Bankshares reissued an “outperform” rating on shares of BCE in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.00.

Get Our Latest Stock Analysis on BCE

BCE Stock Down 0.7%

NYSE BCE opened at $23.18 on Tuesday. The stock has a market cap of $21.61 billion, a PE ratio of 4.82 and a beta of 0.61. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 1.81. BCE has a 12 month low of $20.28 and a 12 month high of $26.99. The stock’s 50 day moving average is $23.31 and its 200 day moving average is $23.42.

BCE (NYSE:BCE – Get Free Report) (TSE:BCE) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $6.14 billion. BCE had a return on equity of 17.35% and a net margin of 25.62%.The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. Research analysts predict that BCE will post 1.94 EPS for the current fiscal year.

Institutional Trading of BCE

A number of institutional investors have recently added to or reduced their stakes in BCE. Canerector Inc. raised its stake in shares of BCE by 3,152.0% during the 3rd quarter. Canerector Inc. now owns 8,130,000 shares of the utilities provider’s stock worth $190,161,000 after buying an additional 7,880,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in BCE by 170.7% during the first quarter. Goldman Sachs Group Inc. now owns 11,679,620 shares of the utilities provider’s stock worth $268,164,000 after buying an additional 7,365,253 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of BCE by 99.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 14,006,153 shares of the utilities provider’s stock worth $310,682,000 after acquiring an additional 6,981,281 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of BCE by 36.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 25,249,300 shares of the utilities provider’s stock valued at $579,458,000 after buying an additional 6,697,900 shares during the period. Finally, Federation des caisses Desjardins du Quebec increased its stake in BCE by 94.4% during the first quarter. Federation des caisses Desjardins du Quebec now owns 10,649,978 shares of the utilities provider’s stock worth $243,966,000 after acquiring an additional 5,171,655 shares during the last quarter. Hedge funds and other institutional investors own 41.46% of the company’s stock.

About BCE

(Get Free Report)

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.

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