BCE Inc. (USA) (BCE) Formed Bullish Wedge Up Chart Pattern; Buyers Could Thrive

September 17, 2017 - By Adrian Mccoy

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 EPS, down $0.02 or 2.86 % from last year’s $0.7 same quarter earnings. This translates into $611.97 million 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 company was initiated on Friday, December 4 by Goldman Sachs. The firm has “Neutral” rating by Credit Suisse given on Monday, January 4. The stock of BCE Inc. (USA) (NYSE:BCE) has “Neutral” rating given on Thursday, May 26 by Citigroup. The stock has “Sector Perform” rating by RBC Capital Markets on Monday, January 9. The stock has “Best Ideas List” rating by RBC Capital Markets on Friday, October 16. Citigroup maintained it with “Neutral” rating and $63 target in Tuesday, July 19 report. National Bank Canada maintained BCE Inc. (USA) (NYSE:BCE) rating on Friday, November 6. National Bank Canada has “Sector Perform” rating and $43 target. The firm has “Hold” rating by Canaccord Genuity given on Friday, August 7. The stock of BCE Inc. (USA) (NYSE:BCE) earned “Buy” rating by Canaccord Genuity on Friday, November 6. The firm has “Underperform” rating given on Tuesday, October 27 by Macquarie Research.

More notable recent BCE Inc. (USA) (NYSE:BCE) news were published by: Nasdaq.com which released: “BCE, Inc. (BCE) Ex-Dividend Date Scheduled for September 14, 2017” on September 13, 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: “Which 1 Is Better for Dividend Income: BCE Inc. or Rogers Communications Inc.?” on September 14, 2017. More interesting news about BCE Inc. (USA) (NYSE:BCE) were released by: Fool.ca and their article: “BCE Inc. or Royal Bank of Canada: Which Stock Is Best for Your Retirement …” published on September 13, 2017 as well as Fool.ca‘s news article titled: “BCE Inc. vs. Telus Corporation: Which Is Better for Dividend Investors?” with publication date: August 19, 2017.

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