Cordasco Financial Network Lowers stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Cordasco Financial Network reduced its stake in BCE (USA) by 6.71% during the most recent quarter end. The investment management company now holds a total of 15,977 shares of BCE (USA) which is valued at $758,109 after selling 1,150 shares in BCE (USA) , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.BCE (USA) makes up approximately 0.85% of Cordasco Financial Network’s portfolio.

Other Hedge Funds, Including , Trust Co Of Toledo Na Oh boosted its stake in BCE in the latest quarter, The investment management firm added 1,257 additional shares and now holds a total of 32,146 shares of BCE (USA) which is valued at $1,525,328. BCE (USA) makes up approx 0.43% of Trust Co Of Toledo Na Oh’s portfolio. Concorde Asset Management added BCE to its portfolio by purchasing 6,480 company shares during the most recent quarter which is valued at $310,975. BCE (USA) makes up approx 0.30% of Concorde Asset Management’s portfolio.Nikko Asset Management Americas boosted its stake in BCE in the latest quarter, The investment management firm added 5,600 additional shares and now holds a total of 16,600 shares of BCE (USA) which is valued at $793,314. BCE (USA) makes up approx 0.07% of Nikko Asset Management Americas’s portfolio.First National Bank Of Mount Dora Trust Investment Services boosted its stake in BCE in the latest quarter, The investment management firm added 357 additional shares and now holds a total of 10,387 shares of BCE (USA) which is valued at $496,395. BCE (USA) makes up approx 0.27% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.Nisa Investment Advisors boosted its stake in BCE in the latest quarter, The investment management firm added 111 additional shares and now holds a total of 202 shares of BCE (USA) which is valued at $9,730.

BCE (USA) opened for trading at $47.76 and hit $48.19 on the upside on Friday, eventually ending the session at $47.89, with a gain of 0.74% or 0.35 points. The heightened volatility saw the trading volume jump to 8,27,145 shares. Company has a market cap of $41,598 M.

On the company’s financial health, BCE (USA) reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.83. The company had revenue of $5270.00 million for the quarter, compared to analysts expectations of $5322.33 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on BCE (USA). BCE (USA) was Downgraded by Citigroup to ” Neutral” on May 26, 2016.

BCE Inc. is a communications company. The Company provides residential business and wholesale customers with a range of solutions to all their communications needs including wireless high-speed Internet Internet protocol television (IPTV) and satellite TV business Internet protocol (IP) broadband and information and communications technology (ICT) services. The Company’s segments include Bell Wireless Bell Wireline and Bell Media. The Company’s Bell Wireless segment provides wireless services that are available to virtually all of the Canadian population. The Bell Wireline segment includes voice and data network; high-speed fiber deployment and bell direct to home (DTH) satellite television service. The Company’s Bell Media segment offers specialty and pay television radio digital media and out-of-home advertising. The Company through Bell media operates approximately 110 radio stations in over 50 markets across Canada.

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