BCE, Inc. (NYSE:BCE) (TSE:BCE) – Equities researchers at National Bank Financial cut their FY2017 earnings per share (EPS) estimates for BCE in a report issued on Monday. National Bank Financial analyst A. Shine now forecasts that the brokerage will post earnings of $2.67 per share for the year, down from their prior forecast of $2.72.
Other equities research analysts have also issued reports about the stock. Desjardins raised shares of BCE from a “hold” rating to a “buy” rating in a report on Wednesday, December 21st. Canaccord Genuity reaffirmed a “buy” rating on shares of BCE in a report on Tuesday, December 20th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of BCE in a report on Friday, November 4th. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, October 5th. Finally, Credit Suisse Group set a $58.00 target price on shares of BCE and gave the stock a “hold” rating in a report on Sunday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $59.20.
Shares of BCE (NYSE:BCE) opened at 44.87 on Thursday. The firm has a 50-day moving average of $43.78 and a 200 day moving average of $45.53. BCE has a 12-month low of $39.77 and a 12-month high of $49.03. The firm has a market capitalization of $39.05 billion, a price-to-earnings ratio of 19.08 and a beta of 0.35.
BCE (NYSE:BCE) last posted its earnings results on Thursday, November 3rd. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.22. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $4.03 billion. BCE had a net margin of 13.05% and a return on equity of 22.73%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Investors of record on Thursday, December 15th were given a dividend of $0.509 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.55%. BCE’s payout ratio is presently 86.02%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Hawaii increased its position in BCE by 5.9% in the second quarter. Bank of Hawaii now owns 132,854 shares of the company’s stock worth $6,285,000 after buying an additional 7,454 shares during the last quarter. Concert Wealth Management Inc. bought a new position in BCE during the second quarter worth about $215,000. Pring Turner Capital Group Inc. increased its position in BCE by 1.7% in the second quarter. Pring Turner Capital Group Inc. now owns 52,240 shares of the company’s stock worth $2,471,000 after buying an additional 890 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new position in BCE during the second quarter worth about $205,000. Finally, FTB Advisors Inc. increased its position in BCE by 2.4% in the second quarter. FTB Advisors Inc. now owns 7,669 shares of the company’s stock worth $362,000 after buying an additional 177 shares during the last quarter. Institutional investors own 44.27% of the company’s stock.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.