BCE Inc. (BCE) Expected to Announce Quarterly Sales of $4.50 Billion

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Equities analysts expect that BCE Inc. (NYSE:BCE) (TSE:BCE) will announce sales of $4.50 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for BCE’s earnings. The lowest sales estimate is $4.49 billion and the highest is $4.52 billion. BCE posted sales of $4.53 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.7%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that BCE will report full year sales of $18.00 billion for the current fiscal year, with estimates ranging from $17.89 billion to $18.06 billion. For the next fiscal year, analysts anticipate that the company will report sales of $18.37 billion, with estimates ranging from $18.24 billion to $18.57 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for BCE.

BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.19. The business had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.81 billion. BCE had a return on equity of 18.67% and a net margin of 12.00%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share.

A number of research analysts have recently issued reports on the company. Edward Jones raised BCE from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Scotiabank raised BCE from a “sector perform” rating to a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. BCE presently has an average rating of “Hold” and an average price target of $56.00.

Shares of NYSE:BCE traded up $0.03 on Monday, reaching $39.05. 1,136,495 shares of the company traded hands, compared to its average volume of 880,515. BCE has a 52 week low of $38.88 and a 52 week high of $49.06. The stock has a market capitalization of $36.39 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 4.33 and a beta of 0.29. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 1.10.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 14th will be paid a dividend of $0.58 per share. This is a boost from BCE’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Thursday, September 13th. BCE’s dividend payout ratio (DPR) is 88.55%.

Several large investors have recently made changes to their positions in BCE. Baird Financial Group Inc. grew its stake in shares of BCE by 15.3% during the first quarter. Baird Financial Group Inc. now owns 40,274 shares of the utilities provider’s stock valued at $1,733,000 after buying an additional 5,357 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of BCE by 1,449.3% in the first quarter. Summit Trail Advisors LLC now owns 170,201 shares of the utilities provider’s stock worth $170,000 after purchasing an additional 159,215 shares during the last quarter. Private Vista LLC bought a new stake in shares of BCE in the first quarter worth about $226,000. Cerebellum GP LLC grew its stake in shares of BCE by 171.5% in the second quarter. Cerebellum GP LLC now owns 4,268 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 2,696 shares during the last quarter. Finally, Stonebridge Capital Management Inc. grew its stake in shares of BCE by 21.3% in the second quarter. Stonebridge Capital Management Inc. now owns 17,590 shares of the utilities provider’s stock worth $719,000 after purchasing an additional 3,090 shares during the last quarter. 42.78% of the stock is currently owned by hedge funds and other institutional investors.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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Earnings History and Estimates for BCE (NYSE:BCE)

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