BCE (NYSE:BCE) Earns Sector Perform Rating from Royal Bank of Canada

BCE (NYSE:BCE) (TSE:BCE)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $39.00 target price on the utilities provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 61.79% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of BCE from a “neutral” rating to an “underweight” rating in a research report on Friday, February 7th. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley started coverage on BCE in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Finally, Barclays reiterated an “underweight” rating on shares of BCE in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.00.

BCE Stock Performance

Shares of BCE traded up $0.03 during mid-day trading on Tuesday, reaching $24.11. The company had a trading volume of 904,374 shares, compared to its average volume of 3,354,874. The stock has a 50 day moving average of $23.38 and a two-hundred day moving average of $28.88. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $22.22 billion, a P/E ratio of 200.88, a PEG ratio of 4.13 and a beta of 0.57. BCE has a 52-week low of $21.87 and a 52-week high of $37.55.

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

Hedge Funds Weigh In On BCE

Several large investors have recently modified their holdings of the business. Allworth Financial LP raised 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 purchasing an additional 790 shares during the period. WealthCollab LLC purchased a new stake in BCE during the 4th quarter worth about $27,000. Blue Trust Inc. lifted its stake in BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,285 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of BCE in the 3rd quarter valued at approximately $51,000. Finally, Legacy Investment Solutions LLC acquired a new stake in BCE in the third quarter valued at $65,000. 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.