BCE Inc. (NYSE:BCE) (TSE:BCE) declared a quarterly dividend on Thursday, November 1st, Zacks reports. Stockholders of record on Friday, December 14th will be paid a dividend of 0.574 per share by the utilities provider on Tuesday, January 15th. This represents a $2.30 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend is Thursday, December 13th.
BCE has decreased its dividend by an average of 0.9% per year over the last three years. BCE has a payout ratio of 113.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect BCE to earn $2.75 per share next year, which means the company may not be able to cover its $3.02 annual dividend with an expected future payout ratio of 109.8%.
Shares of BCE stock opened at $42.80 on Friday. BCE has a 52 week low of $38.75 and a 52 week high of $49.06. The firm has a market capitalization of $38.61 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 4.64 and a beta of 0.34. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 1.14.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. BCE had a return on equity of 18.73% and a net margin of 12.13%. The business had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that BCE will post 2.65 earnings per share for the current fiscal year.
Several brokerages have recently commented on BCE. Edward Jones raised BCE from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. TD Securities reaffirmed a “hold” rating on shares of BCE in a research note on Wednesday, October 24th. Barclays decreased their price target on BCE from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, November 2nd. Royal Bank of Canada reaffirmed a “hold” rating on shares of BCE in a research note on Friday, November 2nd. Finally, ValuEngine raised BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. BCE has a consensus rating of “Buy” and a consensus price target of $45.50.
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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. 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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