BCE Inc. (USA) (BCE) on Focus After Forming Bullish Wedge Up

September 17, 2017 - By Maria Brooks

The stock of BCE Inc. (USA) (BCE) formed an up wedge with $49.59 target or 4.00 % above today’s $47.68 share price. The 5 months wedge indicates low risk for the $42.91B company. If the $49.59 price target is reached, the company will be worth $1.72B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.65% or $0.31 on September 15, reaching $47.68. About 658,977 shares traded. BCE Inc. (USA) (NYSE:BCE) has declined 2.36% since September 17, 2016 and is downtrending. It has underperformed by 19.06% the S&P500.

Investors wait BCE Inc. (USA) (NYSE:BCE) to report on November, 2. its quarterly earnings Wall Street analysts expect $0.68 earnings per share, down $0.02 or 2.86 % from last year’s $0.7 same quarter earnings. This translates into $611.97M profit for BCE giving the stock a 17.53 P/E. This is assuming the current $0.68 EPS is accurate. BCE Inc. (USA)’s Wall Street analysts see 4.62 % EPS growth, taking into account the $0.65 EPS reproted in the previous quarter,

BCE Inc. (USA) (NYSE:BCE) Ratings Coverage

Among 8 analysts covering BCE Inc. (NYSE:BCE), 4 have Buy rating, 1 Sell and 3 Hold. Therefore 50% are positive. BCE Inc. had 19 analyst reports since August 4, 2015 according to SRatingsIntel. The firm has “Sector Perform” rating given on Monday, January 9 by RBC Capital Markets. Credit Suisse reinitiated the shares of BCE in report on Monday, January 4 with “Neutral” rating. Barclays Capital maintained the stock with “Overweight” rating in Tuesday, March 21 report. Citigroup upgraded the shares of BCE in report on Thursday, April 6 to “Buy” rating. The rating was upgraded by Canaccord Genuity on Friday, November 6 to “Buy”. The firm earned “Underperform” rating on Tuesday, October 27 by Macquarie Research. Goldman Sachs initiated BCE Inc. (USA) (NYSE:BCE) on Friday, December 4 with “Buy” rating. Citigroup downgraded the stock to “Neutral” rating in Thursday, May 26 report. The rating was maintained by National Bank Canada with “Sector Perform” on Friday, November 6. The firm earned “Best Ideas List” rating on Friday, October 16 by RBC Capital Markets.

More notable recent BCE Inc. (USA) (NYSE:BCE) news were published by: Fool.ca which released: “BCE Inc. vs. Telus Corporation: Which Is Better for Dividend Investors?” on August 19, 2017, also Fool.ca with their article: “BCE Inc. or Royal Bank of Canada: Which Stock Is Best for Your Retirement …” published on September 13, 2017, Nasdaq.com published: “BCE, Inc. (BCE) Ex-Dividend Date Scheduled for September 14, 2017” on September 13, 2017. More interesting news about BCE Inc. (USA) (NYSE:BCE) were released by: Fool.ca and their article: “Better Buy: BCE Inc. or Telus Corporation?” published on September 11, 2017 as well as Seekingalpha.com‘s news article titled: “Is It Time to Ditch BCE Stock?” with publication date: September 12, 2017.

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