1832 Asset Management LP has recently announced that it has increased stake in BCE Inc (NYSE:BCE) by 5.97%. After grabbing 36.76 million shares, the institutional investor is now in possession of 2.07 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 4.03% having worth around $1.45 billion. Moreover, TD Asset Management, Inc. increased its share by 0.52 million to have a control over 18.1 million shares. And CIBC World Markets, Inc. raised its holdings to 0.29 million shares by acquiring 14.87 million shares or 1.63% of the stake.
BCE Inc (BCE) concluded trading on 12/21/23 at a closing price of $38.73, with 2.5 million shares of worth about $96.88 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -13.12% during that period and on Thursday the price saw a gain of about 1.12%. Currently the company’s common shares owned by public are about 911.98M shares, out of which, 911.78M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the BCE stock and their offered price forecasts bring an average price target of $57.29. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $62.00 and could fall to a lowest price of $54.00. The stock’s current price level is 8.16% above of average price target set by the analysts, while a rise to estimated low would result in gain of 28.28% for the stock. However, touching the estimated high of $62.00 would mean a gain of 37.53% for the stock.
Caisse de dépôt et placement du Q, DWS Top Dividende, and RBC Canadian Dividend Fund are the top 3 mutual funds which are holding stakes in BCE Inc Caisse de dépôt et placement du Q is currently holding 23.0 million shares of worth totaling $905.94 million. The company recently came buying 14.27 million shares which brought its stake up to 2.52% of the company’s outstanding shares. RBC Canadian Dividend Fund, after buying 5.85 million shares, have now control over 0.64% of the stake in the company. It holds 12750.0 shares of worth $230.26 million.
BCE Inc (NYSE: BCE) started trading at $38.65, above $0.35 from concluding price of the previous day. However, the stock later moved at a day high price of 38.84, or with a gain of 1.12%. Stock saw a price change of -3.34% in past 5 days and over the past one month there was a price change of -1.63%. Year-to-date (YTD), BCE shares are showing a performance of -11.88% which decreased to -11.56% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $36.15 but also hit the highest price of $48.38 during that period. The average intraday trading volume for BCE Inc shares is 1.90 million. The stock is currently trading -2.59% below its 20-day simple moving average (SMA20), while that difference is down -0.42% for SMA50 and it goes to -9.18% lower than SMA200.
1832 Asset Management LP acquired 36.76 million shares of BCE Inc having value of about $1.45 billion. Data submitted at the U.S SEC by 1832 Asset Management LP revealed that the firm now holds 2.07 million shares in the company valued at close to $80263122.48, or have control over 5.97% stake in the company. BCE Inc (NYSE: BCE) currently have 911.98M outstanding shares and institutions hold larger chunk of about 45.02% of that. Holding of mutual funds in the company is about 22.82% while other institutional holders and individual stake holders have control over 23.03% and — of the stake respectively.
The stock has a current market capitalization of $35.33B and its 3Y-monthly beta is at 0.64. PE ratio of stock for trailing 12 months is 21.45, while it has posted earnings per share of $1.81 in the same period. Its PEG reads 11.10 and has Quick Ratio of 0.47 while making debt-to-equity ratio of 1.65. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BCE, volatility over the week remained 1.92% while standing at 1.46% over the month.
Analysts are in expectations that BCE Inc (BCE) stock would likely to be making an EPS of $0.55 in the current quarter, while forecast for next quarter EPS is $0.6 and it is $2.44 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.51 which is $0.6 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.53 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -7.26% while it is estimated to increase by 1.33% in next year. EPS is likely to grow at an annualized rate of 1.93% for next 5-years, compared to annual growth of -1.50% made by the stock over the past 5-years.
Analysts at 20 brokerage firms have issued recommendations for the BCE Inc (BCE)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.55. Out of those 20 Wall Street analysts, 4 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
