$4.31 Billion in Sales Expected for BCE, Inc. (BCE) This Quarter
Brokerages expect that BCE, Inc. (NYSE:BCE) (TSE:BCE) will announce $4.31 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for BCE’s earnings. The highest sales estimate is $4.46 billion and the lowest is $4.13 billion. BCE posted sales of $3.98 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.3%. The firm is scheduled to report its next earnings report before the market opens on Thursday, August 3rd.
On average, analysts expect that BCE will report full-year sales of $4.31 billion for the current fiscal year, with estimates ranging from $16.58 billion to $17.94 billion. For the next fiscal year, analysts anticipate that the business will report sales of $17.49 billion per share, with estimates ranging from $16.77 billion to $18.28 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover BCE.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Wednesday, April 26th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.37 billion. BCE had a return on equity of 22.03% and a net margin of 13.36%. BCE’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded BCE from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Argus assumed coverage on shares of BCE in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. BidaskClub cut shares of BCE from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Canaccord Genuity set a $60.00 target price on shares of BCE and gave the company a “hold” rating in a report on Tuesday, May 16th. Finally, Citigroup Inc. raised shares of BCE from a “neutral” rating to a “buy” rating in a report on Thursday, April 6th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. BCE has an average rating of “Buy” and a consensus price target of $58.75.
Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock valued at $131,000 after buying an additional 20 shares during the last quarter. Camarda Financial Advisors LLC raised its stake in BCE by 0.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock valued at $133,000 after buying an additional 16 shares during the last quarter. FNY Partners Fund LP acquired a new stake in BCE during the first quarter valued at about $168,000. Round Table Services LLC acquired a new stake in BCE during the first quarter valued at about $215,000. Finally, Cribstone Capital Management LLC raised its stake in BCE by 63.9% in the first quarter. Cribstone Capital Management LLC now owns 4,762 shares of the utilities provider’s stock valued at $215,000 after buying an additional 1,857 shares during the last quarter. Institutional investors and hedge funds own 43.89% of the company’s stock.
BCE (BCE) traded up 0.04% during mid-day trading on Friday, reaching $46.67. The company had a trading volume of 595,877 shares. The company has a market capitalization of $41.98 billion, a P/E ratio of 17.94 and a beta of 0.36. The stock has a 50 day moving average price of $45.17 and a 200 day moving average price of $44.66. BCE has a one year low of $41.83 and a one year high of $49.03.
The firm also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Thursday, June 15th were given a dividend of $0.5316 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $2.13 annualized dividend and a yield of 4.56%. BCE’s payout ratio is 85.89%.
BCE Company Profile
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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