Zacks: Brokerages Anticipate BCE, Inc. (BCE) Will Post Quarterly Sales of $4.57 Billion
Wall Street brokerages expect that BCE, Inc. (NYSE:BCE) (TSE:BCE) will post sales of $4.57 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for BCE’s earnings, with the highest sales estimate coming in at $4.58 billion and the lowest estimate coming in at $4.56 billion. BCE posted sales of $4.15 billion during the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that BCE will report full year sales of $4.57 billion for the current year, with estimates ranging from $17.89 billion to $18.41 billion. For the next financial year, analysts expect that the business will report sales of $18.60 billion per share, with estimates ranging from $18.44 billion to $18.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow BCE.
BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 earnings per share.
BCE has been the subject of several research analyst reports. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, October 4th. BidaskClub upgraded BCE from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Argus initiated coverage on BCE in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Barclays PLC upped their price objective on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Morgan Stanley cut their price objective on BCE from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, September 27th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. BCE presently has a consensus rating of “Buy” and a consensus price target of $56.83.
BCE (BCE) opened at 46.61 on Wednesday. The stock has a market capitalization of $41.97 billion, a PE 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’s 50-day moving average is $47.27 and its 200 day moving average is $46.13.
The business also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Friday, September 15th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 4.93%. This is an increase from BCE’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 14th. BCE’s dividend payout ratio is currently 94.26%.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of BCE by 35.8% during the second quarter. BlackRock Inc. now owns 2,062,333 shares of the utilities provider’s stock valued at $92,888,000 after purchasing an additional 543,921 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in shares of BCE by 113.9% during the second quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock valued at $93,899,000 after purchasing an additional 1,111,892 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of BCE by 3.9% during the second quarter. Wells Fargo & Company MN now owns 3,125,798 shares of the utilities provider’s stock valued at $140,786,000 after purchasing an additional 118,048 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in shares of BCE by 20.6% during the second quarter. Intact Investment Management Inc. now owns 1,180,098 shares of the utilities provider’s stock valued at $68,916,000 after purchasing an additional 201,960 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of BCE by 18.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 64,967 shares of the utilities provider’s stock valued at $2,926,000 after purchasing an additional 9,950 shares during the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.
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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