BCE (NYSE:BCE – Get Free Report) (TSE:BCE) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a $27.00 price objective on the utilities provider’s stock, up from their prior price objective of $24.50. Bank of America‘s target price suggests a potential upside of 19.89% from the stock’s current price.
Other analysts have also recently issued research reports about the company. TD Securities raised BCE from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of BCE in a research note on Friday, July 10th. Barclays decreased their target price on BCE from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Raymond James Financial started coverage on shares of BCE in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Scotiabank reiterated an “outperform” rating on shares of BCE in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BCE presently has a consensus rating of “Moderate Buy” and an average price target of $29.25.
BCE Stock Down 1.0%
BCE (NYSE:BCE – Get Free Report) (TSE:BCE) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. BCE had a net margin of 25.49% and a return on equity of 12.90%. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.35 billion. BCE has set its FY 2026 guidance at 1.798-1.919 EPS. Sell-side analysts forecast that BCE will post 1.84 earnings per share for the current year.
Hedge Funds Weigh In On BCE
Hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of BCE by 36.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 278,745 shares of the utilities provider’s stock valued at $6,400,000 after acquiring an additional 75,053 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of BCE by 64.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,096 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 1,217 shares during the period. Prudential Financial Inc. acquired a new stake in BCE in the 2nd quarter valued at approximately $407,000. EverSource Wealth Advisors LLC raised its position in BCE by 92.9% in the second quarter. EverSource Wealth Advisors LLC now owns 4,322 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 2,081 shares during the period. Finally, Marshall Wace LLP raised its position in BCE by 237.0% in the second quarter. Marshall Wace LLP now owns 265,861 shares of the utilities provider’s stock valued at $5,894,000 after purchasing an additional 186,965 shares during the period. 41.46% of the stock is currently owned by hedge funds and other institutional investors.
BCE Company Profile
BCE Inc (NYSE: BCE) is a Canadian communications, media and entertainment company that operates through its primary subsidiaries, including Bell Canada and Bell Media. As a large integrated telecommunications provider, BCE delivers a broad range of connectivity services and content to residential, business and wholesale customers across Canada. The company combines network infrastructure with media assets to offer bundled communications and entertainment solutions.
On the services side, BCE provides fixed-line and wireless voice services, mobile data, high-speed internet, fibre and broadband access, and television services through platforms such as Bell Fibe and Bell TV.
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