BCE (NYSE:BCE) Upgraded to “Strong-Buy” at National Bank Financial

BCE (NYSE:BCE) (TSE:BCE) was upgraded by equities research analysts at National Bank Financial from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports. National Bank Financial also issued estimates for BCE’s FY2025 earnings at $1.95 EPS.

A number of other research analysts also recently issued reports on BCE. Barclays reaffirmed an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $39.00 price target on shares of BCE in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut shares of BCE from a “neutral” rating to an “underweight” rating in a report on Friday, February 7th. Morgan Stanley initiated coverage on shares of BCE in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Finally, Bank of America lowered shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.00.

BCE Stock Up 0.3 %

NYSE:BCE opened at $22.74 on Thursday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The firm has a market cap of $20.96 billion, a P/E ratio of 189.48, a P/E/G ratio of 4.13 and a beta of 0.56. BCE has a fifty-two week low of $21.62 and a fifty-two week high of $36.17. The firm has a 50-day simple moving average of $23.52 and a two-hundred day simple moving average of $26.63.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. Analysts predict that BCE will post 1.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BCE

Several hedge funds and other institutional investors have recently modified their holdings of BCE. Bernard Wealth Management Corp. bought a new stake in BCE during the fourth quarter valued at about $26,000. Allworth Financial LP lifted its position in shares of BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock valued at $27,000 after buying an additional 790 shares in the last quarter. WealthCollab LLC bought a new position in shares of BCE during the 4th quarter valued at approximately $27,000. Blue Trust Inc. increased its holdings in BCE by 1,147.3% in the 4th 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 in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in BCE during the 3rd quarter worth approximately $65,000. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

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.