Cormark Equities Analysts Raise Earnings Estimates for BCE, Inc. (NYSE:BCE)
BCE, Inc. (NYSE:BCE) (TSE:BCE) – Analysts at Cormark lifted their FY2017 EPS estimates for shares of BCE in a report released on Friday. Cormark analyst D. Mcfadgen now expects that the utilities provider will post earnings per share of $2.66 for the year, up from their prior estimate of $2.64. Cormark also issued estimates for BCE’s FY2018 earnings at $2.66 EPS.
A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of BCE from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. BidaskClub cut shares of BCE from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Canaccord Genuity set a $60.00 price objective on shares of BCE and gave the stock a “hold” rating in a research report on Tuesday, May 16th. Argus started coverage on shares of BCE in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Barclays PLC increased their price objective on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $58.43.
COPYRIGHT VIOLATION NOTICE: “Cormark Equities Analysts Raise Earnings Estimates for BCE, Inc. (NYSE:BCE)” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/08/07/cormark-equities-analysts-raise-earnings-estimates-for-bce-inc-nysebce.html. BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. BCE had a return on equity of 21.08% and a net margin of 12.85%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 dividend on an annualized basis and a yield of 4.92%. BCE’s dividend payout ratio is 87.30%.
A number of large investors have recently added to or reduced their stakes in BCE. 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 worth $131,000 after buying an additional 20 shares during the period. 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 worth $133,000 after buying an additional 16 shares during the period. AT Bancorp acquired a new stake in BCE during the second quarter worth about $149,000. FNY Partners Fund LP acquired a new stake in BCE during the first quarter worth about $168,000. Finally, Adell Harriman & Carpenter Inc. acquired a new stake in BCE during the second quarter worth about $203,000. Institutional investors own 43.99% of the company’s stock.
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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