Brokers Set Expectations for BCE, Inc.’s FY2017 Earnings (BCE)
BCE, Inc. (NYSE:BCE) (TSE:BCE) – Equities researchers at Cormark upped their FY2017 earnings estimates for shares of BCE in a research note issued to investors on Friday. Cormark analyst D. Mcfadgen now anticipates that the utilities provider will post earnings of $2.66 per share for the year, up from their previous estimate of $2.64. Cormark also issued estimates for BCE’s FY2018 earnings at $2.66 EPS.
Other equities analysts have also issued research reports about the company. BidaskClub upgraded BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday. Barclays PLC increased their price target on BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Argus began coverage on BCE in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, Canaccord Genuity set a $60.00 price target on BCE and gave the company a “hold” rating in a research report on Tuesday, May 16th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. BCE currently has an average rating of “Buy” and an average target price of $57.17.
BCE (NYSE:BCE) traded down 0.60% on Monday, hitting $46.57. 183,925 shares of the stock traded hands. BCE has a 12-month low of $41.83 and a 12-month high of $49.03. The stock has a market cap of $41.89 billion, a price-to-earnings ratio of 17.84 and a beta of 0.36. The firm’s 50-day moving average price is $45.73 and its 200-day moving average price is $44.87.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the business posted $0.94 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, September 14th. This is a positive change from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 dividend on an annualized basis and a yield of 4.91%. BCE’s dividend payout ratio (DPR) is presently 87.30%.
A number of large investors have recently made changes to their positions in the company. Schroder Investment Management Group raised its stake in shares of BCE by 311.1% in the first quarter. Schroder Investment Management Group now owns 4,026,494 shares of the utilities provider’s stock worth $236,637,000 after buying an additional 3,047,060 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of BCE during the second quarter worth approximately $93,848,000. Canada Pension Plan Investment Board raised its stake in shares of BCE by 3,184.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,540,242 shares of the utilities provider’s stock worth $69,262,000 after buying an additional 1,493,348 shares during the last quarter. Bank of America Corp DE raised its stake in shares of BCE by 25.9% in the first quarter. Bank of America Corp DE now owns 6,384,703 shares of the utilities provider’s stock worth $282,651,000 after buying an additional 1,311,603 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in shares of BCE by 113.9% in the second quarter. OMERS ADMINISTRATION Corp now owns 2,088,120 shares of the utilities provider’s stock worth $93,899,000 after buying an additional 1,111,892 shares during the last quarter. Hedge funds and other institutional investors own 43.99% of the company’s stock.
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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