Wall Street analysts expect BCE Inc. (NYSE:BCE) (TSE:BCE) to post sales of $4.50 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for BCE’s earnings, with estimates ranging from $4.49 billion to $4.52 billion. BCE posted sales of $4.53 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.7%. The business is expected to report 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 financial year, with estimates ranging from $17.89 billion to $18.06 billion. For the next year, analysts expect that the firm will report sales of $18.37 billion, with estimates ranging from $18.24 billion to $18.57 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow BCE.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.19. BCE had a return on equity of 18.67% and a net margin of 12.00%. The company had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year.
BCE has been the topic of a number of research reports. Edward Jones upgraded BCE from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Scotiabank upgraded BCE from a “sector perform” rating to a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. BCE has a consensus rating of “Hold” and an average price target of $56.00.
Shares of BCE traded up $0.03 during midday trading on Monday, hitting $39.05. The company’s stock had a trading volume of 1,136,495 shares, compared to its average volume of 880,515. BCE has a one year low of $38.88 and a one year high of $49.06. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.46 and a current ratio of 0.50. The firm has a market cap of $36.39 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 4.33 and a beta of 0.29.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 14th will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, September 13th. This represents a $2.32 dividend on an annualized basis and a yield of 5.94%. This is a positive change from BCE’s previous quarterly dividend of $0.56. BCE’s payout ratio is currently 88.55%.
A number of hedge funds have recently modified their holdings of BCE. Summit Trail Advisors LLC grew its position in BCE by 1,449.3% during the 1st quarter. Summit Trail Advisors LLC now owns 170,201 shares of the utilities provider’s stock worth $170,000 after acquiring an additional 159,215 shares during the last quarter. Cerebellum GP LLC grew its position in BCE by 171.5% during the 2nd quarter. Cerebellum GP LLC now owns 4,268 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 2,696 shares during the last quarter. New England Asset Management Inc. bought a new stake in BCE during the 2nd quarter worth $203,000. Lenox Wealth Management Inc. grew its position in BCE by 42.2% during the 2nd quarter. Lenox Wealth Management Inc. now owns 4,958 shares of the utilities provider’s stock worth $204,000 after acquiring an additional 1,472 shares during the last quarter. Finally, Checchi Capital Advisers LLC bought a new stake in BCE during the 2nd quarter worth $211,000. Institutional investors and hedge funds own 42.78% of the company’s stock.
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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