BCE (BCE)

• Market cap: $21B
• 1 day: -0.65%
• 5 days: 4.64%
• 1 month: 3.73%
• 3 months: -6.40%
• 6 months: -10.66%
• Year to date: -1.98%
• 1 year: -32.90%
• 5 years: -45.40%
• 10 years: -47.39%
• Sector: Communication Services
• Industry: Telecom Services

About: BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the Big Three national wireless carriers, with over 10 million customers constituting about 30% of the market. It is also the 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. BCE has a media segment that holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz.

Employees: 40,390

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

33% more funds holding in top 10

Funds holding in top 10: 3 [Q4 2024] → 4 (+1) [Q1 2025]

6% more capital invested

Capital invested by funds: $8.53B [Q4 2024] → $9.08B (+$553M) [Q1 2025]

2.6% more ownership

Funds ownership: 40.26% [Q4 2024] → 42.86% (+2.6%) [Q1 2025]

7% less funds holding

Funds holding: 420 [Q4 2024] → 390 (-30) [Q1 2025]

11% less repeat investments, than reductions

Existing positions increased: 128 | Existing positions reduced: 144

26% less first-time investments, than exits

New positions opened: 48 | Existing positions closed: 65

48% less call options, than puts

Call options by funds: $469M | Put options by funds: $899M

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $35 54% upside
• Avg. target: $35 54% upside
• High target: $35 54% upside

1 analyst rating

• positive: 0 0%
• neutral: 1 100%
• negative: 0 0%

RBC Capital Drew McReynolds

54% upside $35

Sector Perform Reiterated

14 May 2025