Zacks Research upgraded shares of BCE (NYSE:BCE – Free Report) (TSE:BCE) from a strong sell rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.
Several other equities analysts also recently issued reports on the company. Bank of America upgraded BCE from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $24.50 to $27.00 in a research report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of BCE in a research report on Friday, May 29th. Raymond James Financial started coverage on BCE in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of BCE in a research report on Friday, July 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of BCE in a report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.25.
Get Our Latest Stock Analysis on BCE
BCE Trading Up 0.7%
BCE (NYSE:BCE – Get Free Report) (TSE:BCE) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.35 billion. BCE had a return on equity of 12.90% and a net margin of 25.49%.BCE has set its FY 2026 guidance at 1.798-1.919 EPS. As a group, research analysts predict that BCE will post 1.85 earnings per share for the current fiscal year.
BCE Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Tuesday, September 15th. BCE’s dividend payout ratio is presently 25.97%.
Hedge Funds Weigh In On BCE
A number of institutional investors have recently modified their holdings of BCE. Intact Investment Management Inc. raised its holdings in BCE by 23.3% in the 4th quarter. Intact Investment Management Inc. now owns 3,848,390 shares of the utilities provider’s stock worth $91,794,000 after acquiring an additional 727,860 shares during the period. Vanguard Group Inc. raised its holdings in BCE by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 18,020,124 shares of the utilities provider’s stock valued at $429,834,000 after acquiring an additional 700,797 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of BCE in the fourth quarter valued at $1,616,000. Renaissance Technologies LLC lifted its holdings in shares of BCE by 501.6% during the 1st quarter. Renaissance Technologies LLC now owns 75,198 shares of the utilities provider’s stock worth $1,898,000 after acquiring an additional 62,698 shares during the period. Finally, Pittenger & Anderson Inc. bought a new position in BCE during the fourth quarter worth about $1,401,000. Institutional investors own 41.46% of the company’s stock.
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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