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%.
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.
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.
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