BCE Inc. (USA) (BCE)’s Wedge Up Points to Lower Stock Risks

September 17, 2017 - By Kurt Siggers

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.

Wall Street await BCE Inc. (USA) (NYSE:BCE) to release earnings on November, 2. Analysts forecast EPS of $0.68, down exactly $0.02 or 2.86 % from 2014’s $0.7 EPS. The expected BCE’s profit could reach $611.97 million giving the stock 17.53 P/E in the case that $0.68 earnings per share is reported. After posting $0.65 EPS for the previous quarter, BCE Inc. (USA)’s analysts now forecast 4.62 % EPS growth.

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 stock of BCE Inc. (USA) (NYSE:BCE) has “Neutral” rating given on Tuesday, July 19 by Citigroup. The stock of BCE Inc. (USA) (NYSE:BCE) has “Neutral” rating given on Monday, January 4 by Credit Suisse. Canaccord Genuity upgraded the stock to “Buy” rating in Friday, November 6 report. As per Tuesday, March 21, the company rating was maintained by Barclays Capital. The stock of BCE Inc. (USA) (NYSE:BCE) earned “Sector Perform” rating by RBC Capital Markets on Monday, January 9. The stock has “Sector Perform” rating by National Bank Canada on Friday, November 6. The firm has “Buy” rating given on Friday, December 4 by Goldman Sachs. Canaccord Genuity maintained BCE Inc. (USA) (NYSE:BCE) on Friday, August 7 with “Hold” rating. RBC Capital Markets upgraded the shares of BCE in report on Friday, October 16 to “Best Ideas List” rating. The firm has “Buy” rating by Citigroup given on Thursday, April 6.

More notable recent BCE Inc. (USA) (NYSE:BCE) news were published by: Fool.ca which released: “Shaw Communications Inc.: Investors Are Underestimating the Long-Term …” on September 15, 2017, also Fool.ca with their article: “TFSA Income Investors: Is Enbridge Inc. or BCE Inc. Oversold?” published on August 31, 2017, Fool.ca published: “BCE Inc. or Royal Bank of Canada: Which Stock Is Best for Your Retirement …” on September 13, 2017. More interesting news about BCE Inc. (USA) (NYSE:BCE) were released by: Fool.ca and their article: “4 Reasons to Invest in BCE Inc.” published on September 12, 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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