BCE, Inc. (BCE) to Post Q3 2017 Earnings of $0.68 Per Share, Cormark Forecasts
BCE, Inc. (NYSE:BCE) (TSE:BCE) – Equities research analysts at Cormark issued their Q3 2017 earnings estimates for BCE in a report issued on Monday. Cormark analyst D. Mcfadgen expects that the utilities provider will post earnings per share of $0.68 for the quarter. Cormark also issued estimates for BCE’s FY2017 earnings at $2.62 EPS and FY2018 earnings at $2.62 EPS.
Other equities analysts have also recently issued research reports about the stock. Argus assumed coverage on shares of BCE in a research note on Tuesday, July 18th. They set a “hold” rating on the stock. Zacks Investment Research cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub upgraded shares of BCE from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Barclays PLC upped their target price on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Finally, Morgan Stanley lowered their target price on shares of BCE from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 27th. Five investment 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 stock. BCE presently has a consensus rating of “Buy” and an average target price of $56.83.
Shares of BCE (NYSE:BCE) opened at 46.61 on Wednesday. BCE has a 12-month low of $41.83 and a 12-month high of $48.27. The stock has a market cap of $41.97 billion, a P/E ratio of 17.48 and a beta of 0.35. The company’s 50-day moving average is $47.27 and its 200-day moving average is $46.13.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). BCE had a return on equity of 21.08% and a net margin of 12.85%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business posted $0.94 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCE. SG Americas Securities LLC increased its position in shares of BCE by 0.7% during the 1st quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 20 shares during the last quarter. Camarda Financial Advisors LLC increased its position in shares of BCE by 0.5% during the 2nd quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 16 shares during the last quarter. AT Bancorp purchased a new stake in shares of BCE during the 2nd quarter valued at about $149,000. FNY Partners Fund LP purchased a new stake in shares of BCE during the 1st quarter valued at about $168,000. Finally, Adell Harriman & Carpenter Inc. purchased a new stake in shares of BCE during the 2nd quarter valued at about $203,000. 42.67% of the stock is owned by hedge funds and other institutional investors.
The firm also recently declared 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. The ex-dividend date was Thursday, September 14th. This represents a $2.30 annualized dividend and a dividend yield of 4.93%. This is a positive change from BCE’s previous quarterly dividend of $0.53. BCE’s dividend payout ratio is presently 94.26%.
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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