BCE, Inc. (BCE) to Post Q3 2017 Earnings of $0.66 Per Share, National Bank Financial Forecasts
BCE, Inc. (NYSE:BCE) (TSE:BCE) – Equities researchers at National Bank Financial issued their Q3 2017 earnings estimates for BCE in a research note issued on Monday. National Bank Financial analyst A. Shine expects that the utilities provider will post earnings per share of $0.66 for the quarter. National Bank Financial also issued estimates for BCE’s FY2019 earnings at $2.83 EPS.
A number of other research firms also recently weighed in on BCE. BidaskClub upgraded BCE from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, October 4th. Barclays PLC upped their target price on BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Morgan Stanley cut their target price on BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 27th. Finally, Argus started coverage on BCE in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. BCE currently has a consensus rating of “Buy” and an average target price of $56.83.
BCE (NYSE:BCE) opened at 46.61 on Wednesday. The stock has a market capitalization of $41.97 billion, a P/E ratio of 17.48 and a beta of 0.35. BCE has a 1-year low of $41.83 and a 1-year high of $48.27. The company has a 50-day moving average price of $47.27 and a 200 day moving average price of $46.13.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). BCE had a net margin of 12.85% and a return on equity of 21.08%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Friday, September 15th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, September 14th. This is an increase from BCE’s previous quarterly dividend of $0.53. BCE’s dividend payout ratio is 94.26%.
Several large investors have recently made changes to their positions in BCE. APG Asset Management N.V. lifted its position in shares of BCE by 123.4% during the 3rd quarter. APG Asset Management N.V. now owns 4,492,016 shares of the utilities provider’s stock valued at $209,976,000 after acquiring an additional 2,481,400 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of BCE during the 2nd quarter valued at $93,848,000. FMR LLC lifted its position in shares of BCE by 13.5% during the 2nd quarter. FMR LLC now owns 13,936,315 shares of the utilities provider’s stock valued at $627,607,000 after acquiring an additional 1,662,207 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of BCE by 3,184.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,540,242 shares of the utilities provider’s stock valued at $69,262,000 after acquiring an additional 1,493,348 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of BCE by 113.9% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock valued at $93,899,000 after acquiring an additional 1,111,892 shares during the last quarter. Institutional investors own 42.67% 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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