BCE, Inc. (BCE) Issues FY17 Earnings Guidance
BCE, Inc. (NYSE:BCE) (TSE:BCE) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of CAD3.30-3.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.36. The company issued revenue guidance of +4-6% YoY to CAD22.6-23.0 billion, compared to the consensus revenue estimate of $22.81 billion.
A number of brokerages have recently issued reports on BCE. Morgan Stanley reduced their price target on BCE from $62.00 to $60.00 and set an equal weight rating on the stock in a research report on Wednesday, September 27th. Barclays PLC upped their price target on BCE from $47.00 to $51.00 and gave the stock an overweight rating in a research report on Friday, August 4th. BidaskClub raised BCE from a hold rating to a buy rating in a research report on Monday, July 31st. Argus began coverage on BCE in a research report on Tuesday, July 18th. They set a hold rating on the stock. Finally, Zacks Investment Research downgraded BCE from a strong-buy rating to a hold rating in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $56.83.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 analyst estimates of $5.65 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. BCE’s revenue was up 6.7% compared to the same quarter last year.
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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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