BCE (BCE) Issues Quarterly Earnings Results

Share on StockTwits

BCE (NYSE:BCE) (TSE:BCE) announced its quarterly earnings results on Thursday. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58, Morningstar.com reports. BCE had a return on equity of 18.87% and a net margin of 12.30%. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter last year, the firm posted $0.80 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. BCE updated its FY 2019 guidance to $2.61-2.69 EPS.

Shares of NYSE:BCE traded up $0.03 during midday trading on Friday, hitting $44.42. 601,069 shares of the stock were exchanged, compared to its average volume of 845,596. The stock has a market cap of $39.90 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 4.82 and a beta of 0.46. The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 1.18. BCE has a 12 month low of $38.75 and a 12 month high of $45.65.

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.604 per share. This is a boost from BCE’s previous quarterly dividend of $0.57. This represents a $2.42 annualized dividend and a dividend yield of 5.44%. The ex-dividend date was Thursday, March 14th. BCE’s payout ratio is 87.82%.

A number of research analysts have issued reports on BCE shares. BMO Capital Markets reiterated an “average” rating and issued a $62.00 target price on shares of BCE in a research report on Friday, April 5th. Citigroup cut BCE from a “buy” rating to a “neutral” rating in a research report on Thursday. Desjardins reiterated a “hold” rating on shares of BCE in a research report on Friday. Argus upgraded BCE from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Friday, March 8th. Finally, Zacks Investment Research cut BCE from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. BCE presently has an average rating of “Hold” and an average target price of $50.25.

Several large investors have recently added to or reduced their stakes in BCE. Norges Bank bought a new position in BCE in the 4th quarter valued at $115,933,000. Connor Clark & Lunn Investment Management Ltd. raised its position in BCE by 184.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,993,028 shares of the utilities provider’s stock valued at $157,669,000 after purchasing an additional 2,588,027 shares during the period. Lincluden Management Ltd. purchased a new stake in BCE during the fourth quarter valued at approximately $77,553,000. Great West Life Assurance Co. Can raised its position in BCE by 14.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 7,781,823 shares of the utilities provider’s stock valued at $307,882,000 after purchasing an additional 988,906 shares during the period. Finally, 1832 Asset Management L.P. raised its position in BCE by 7.7% during the fourth quarter. 1832 Asset Management L.P. now owns 12,433,669 shares of the utilities provider’s stock valued at $491,709,000 after purchasing an additional 890,742 shares during the period. Institutional investors own 43.97% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was published by Week Herald and is owned by of Week Herald. If you are viewing this piece of content on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright legislation. The original version of this piece of content can be accessed at https://weekherald.com/2019/05/03/bce-bce-issues-quarterly-earnings-results.html.

BCE Company Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

Read More: What is channel trading?

Earnings History for BCE (NYSE:BCE)

Receive News & Ratings for BCE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE and related companies with MarketBeat.com's FREE daily email newsletter.