CLARET ASSET MANAGEMENT Corp cut its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,572 shares of the utilities provider’s stock after selling 1,864 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in BCE were worth $2,544,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in BCE. Meeder Asset Management Inc. bought a new position in BCE in the second quarter valued at about $25,000. Carroll Financial Associates Inc. raised its position in BCE by 155.3% in the third quarter. Carroll Financial Associates Inc. now owns 697 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 424 shares during the last quarter. Lindbrook Capital LLC raised its position in BCE by 72.9% in the second quarter. Lindbrook Capital LLC now owns 854 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 360 shares during the last quarter. Griffin Asset Management Inc. bought a new position in BCE in the second quarter valued at about $51,000. Finally, Putnam FL Investment Management Co. bought a new position in BCE in the second quarter valued at about $57,000. 43.85% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on BCE shares. Zacks Investment Research downgraded BCE from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Monday, September 9th. TD Securities raised their price objective on BCE from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. BMO Capital Markets restated a “buy” rating and set a $65.00 price objective on shares of BCE in a research report on Monday, September 9th. Scotiabank restated a “buy” rating on shares of BCE in a research report on Friday, August 16th. Finally, Desjardins cut BCE to a “hold” rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.33.
BCE stock traded up $0.21 during mid-day trading on Friday, reaching $49.14. The stock had a trading volume of 438,935 shares, compared to its average volume of 1,094,267. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.53 and a current ratio of 0.57. BCE Inc. has a fifty-two week low of $38.75 and a fifty-two week high of $49.30. The stock’s 50-day simple moving average is $47.86 and its 200-day simple moving average is $46.02. The firm has a market capitalization of $43.78 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 5.17 and a beta of 0.39.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. BCE had a return on equity of 19.15% and a net margin of 12.51%. The firm had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts forecast that BCE Inc. will post 2.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $0.601 per share. This is a boost from BCE’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.40 annualized dividend and a dividend yield of 4.89%. BCE’s payout ratio is presently 87.82%.
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.
Further Reading: Understanding the Price to Earnings Ratio (PE)
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