National Bank of Canada FI, a financial institution, has decreased its ownership in BCE Inc. (BCE) by 2.3% during the first quarter, according to the company’s recent filing with the U.S. Securities and Exchange Commission (SEC). The firm now holds 15,521,183 shares of BCE, having sold 359,678 shares in the quarter. BCE accounts for approximately 1.7% of National Bank of Canada FI’s portfolio, ranking as its ninth-largest position. As of the most recent SEC filing, National Bank of Canada FI’s stake in BCE is valued at $694,773,000.
BCE, a utilities provider, experienced fluctuations in its stock performance. On Thursday, the company’s stock opened at $45.10. With a market capitalization of $41.14 billion, BCE maintains a price-to-earnings (PE) ratio of 21.17, a price/earnings-to-growth (PEG) ratio of 5.86, and a beta of 0.61. Over the past year, BCE’s stock has ranged from a low of $39.88 to a high of $51.11. The company’s financial ratios include a current ratio of 0.57, a quick ratio of 0.51, and a debt-to-equity ratio of 1.49. The stock’s fifty-day simple moving average is $46.74, while its 200-day simple moving average stands at $45.78.
BCE’s Strong Earnings Performance
In its most recent quarterly earnings report on May 4th, BCE exceeded expectations. The company provides earnings per share of $0.63 for the quarter. Additionally, BCE generated $4.48 billion in revenue during the quarter, outperforming analysts’ expectations of $4.43 billion. BCE exhibited a return on equity of 16.13% and a net margin of 10.85%. Analysts predict that BCE Inc. will achieve earnings per share of 2.37 for the current year.
BCE Stock Analysis & Forecast
According to analyst ratings for BCE, a total of 7 analysts have provided their stock forecast. The average analyst target price for BCE Inc is projected to be USD 63.00 in the coming 12 months. The analysts have assigned a Hold rating on average for BCE Inc. Stock Target Advisor’s own analysis of BCE Inc indicates a Slightly Bullish outlook, considering 8 positive signals and 5 negative signals. As of the latest closing, BCE Inc’s stock price stood at USD 44.99. Over the past week, the stock price of BCE Inc has experienced a change of -0.92%, while it has decreased by -4.15% over the past month and -6.25% over the last year.
BCE Boosts Dividend
BCE recently announced an increase in its quarterly dividend, set to be paid on July 17th. Shareholders of record as of June 15th will receive a dividend of $0.714 per share. The ex-dividend date for this payment is June 14th. This beneficial improvement over BCE’s quarterly dividend is amount of $0.7 With a payout ratio of 133.80%, BCE’s annualized dividend amounts to $2.86 per share, yielding 6.33%.
The reduction in National Bank of Canada FI’s stake in BCE Inc. signals a shift in investment strategy, as the financial institution adjusts its portfolio holdings. Meanwhile, BCE stock performance demonstrates volatility in the market, with its recent quarterly earnings report revealing positive results. The increased dividend payout indicates the company’s commitment to delivering returns to its shareholders. Investors will continue to monitor BCE’s future financial performance and strategic decisions in the dynamic utilities industry.
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