BCE Inc. (NYSE:BCE) traded today at a new 52-week high of $51.99. Approximately 371,000 shares have changed hands today, as compared to an average 30-day volume of 1 million shares.
Over the past year, BCE Inc. has traded in a range of $39.91 to $51.99 and is now at $51.73, 30% above that low.
BCE is both a wireless and Internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrier–the legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provinces–Ontario and Quebec. Additionally, BCE has a media segment, which holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz. In 2020, the wireline segment accounted for 55% of total EBITDA, while wireless composed 38%, and media provided the remainder.
Based on a current price of $51.73, BCE Inc. is currently 15.3% above its average consensus analyst price target of $43.83.
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