BCE (NYSE:BCE) Updates FY 2021 Earnings Guidance

BCE (NYSE:BCE) (TSE:BCE) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.422-$2.542 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.590. The company issued revenue guidance of $18.54 billion-$19.08 billion, compared to the consensus revenue estimate of $19.14 billion.

Shares of NYSE:BCE traded up $0.18 during trading on Thursday, hitting $51.39. 682,417 shares of the stock were exchanged, compared to its average volume of 1,206,571. The company has a fifty day moving average price of $50.94 and a two-hundred day moving average price of $50.47. The company has a market cap of $46.70 billion, a PE ratio of 19.84, a P/E/G ratio of 4.30 and a beta of 0.44. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39. BCE has a 12-month low of $42.17 and a 12-month high of $53.00.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, November 4th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. BCE had a return on equity of 16.49% and a net margin of 13.13%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the company earned $0.59 EPS. BCE’s revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that BCE will post 2.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 15th. Investors of record on Wednesday, December 15th will be paid a $0.7047 dividend. The ex-dividend date is Tuesday, December 14th. This represents a $2.82 dividend on an annualized basis and a yield of 5.49%. This is a positive change from BCE’s previous quarterly dividend of $0.70. BCE’s dividend payout ratio is presently 106.95%.

BCE has been the topic of a number of recent research reports. Desjardins upped their target price on BCE from C$64.00 to C$66.00 and gave the company a hold rating in a research note on Monday, November 8th. Canaccord Genuity raised BCE from a hold rating to a buy rating and upped their target price for the company from $62.00 to $66.00 in a research note on Thursday, August 5th. BMO Capital Markets boosted their price target on BCE from C$61.50 to C$63.50 and gave the company an outperform rating in a report on Friday, August 6th. Scotiabank boosted their price target on BCE from C$66.00 to C$68.00 and gave the company an outperform rating in a report on Friday, November 5th. Finally, Royal Bank of Canada boosted their price target on BCE from $61.00 to $63.00 and gave the company a sector perform rating in a report on Friday, August 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $61.14.

About BCE

BCE, Inc is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers.

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Earnings History and Estimates for BCE (NYSE:BCE)

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