BCE (NYSE:BCE) Lowered to Hold Rating by Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of BCE (NYSE:BCE) (TSE:BCE) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports.

Other research analysts have also issued research reports about the stock. Edward Jones lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets increased their price target on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, September 19th. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Barclays dropped their price target on shares of BCE from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, BCE has a consensus rating of “Hold” and an average target price of $46.33.

BCE Stock Down 1.0 %

NYSE BCE opened at $28.84 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65. The firm has a 50-day simple moving average of $34.00 and a 200 day simple moving average of $33.68. BCE has a twelve month low of $28.64 and a twelve month high of $41.77. The stock has a market cap of $26.31 billion, a PE ratio of 18.14, a PEG ratio of 5.36 and a beta of 0.59.

Institutional Trading of BCE

Several hedge funds have recently modified their holdings of the company. AE Wealth Management LLC increased its holdings in shares of BCE by 2.6% during the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock worth $466,000 after buying an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. grew its stake in shares of BCE by 3.9% during the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after purchasing an additional 445 shares during the last quarter. First Affirmative Financial Network grew its stake in shares of BCE by 6.1% during the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 472 shares during the last quarter. Simplicity Wealth LLC grew its stake in shares of BCE by 4.7% during the second quarter. Simplicity Wealth LLC now owns 11,331 shares of the utilities provider’s stock valued at $367,000 after purchasing an additional 509 shares during the last quarter. Finally, Brown Lisle Cummings Inc. grew its stake in shares of BCE by 60.0% during the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 41.46% of the company’s stock.

About BCE

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.