BCE, Inc. (NYSE:BCE) (TSE:BCE) – Research analysts at National Bank Financial raised their FY2017 earnings estimates for shares of BCE in a note issued to investors on Thursday. National Bank Financial analyst A. Shine now expects that the utilities provider will post earnings per share of $2.69 for the year, up from their prior estimate of $2.65. National Bank Financial also issued estimates for BCE’s FY2018 earnings at $2.87 EPS.
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 consensus estimate of $0.67 by $0.02. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a return on equity of 21.08% and a net margin of 12.85%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. TRADEMARK VIOLATION WARNING: This piece was posted by BNB Daily and is the sole property of of BNB Daily. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.baseball-news-blog.com/2017/08/19/fy2017-eps-estimates-for-bce-inc-boosted-by-analyst-bce-updated.html.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday. Barclays PLC raised their target price on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday. BidaskClub raised shares of BCE from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Argus assumed coverage on shares of BCE in a report on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Canaccord Genuity set a $60.00 target price on shares of BCE and gave the stock a “hold” rating in a report on Tuesday, May 16th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. BCE has a consensus rating of “Buy” and a consensus price target of $57.17.
Shares of BCE (NYSE:BCE) opened at 47.00 on Monday. The stock has a 50 day moving average price of $45.55 and a 200 day moving average price of $44.82. The stock has a market capitalization of $42.28 billion, a price-to-earnings ratio of 18.00 and a beta of 0.36. BCE has a 1-year low of $41.83 and a 1-year high of $49.03.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be issued a $0.575 dividend. This is a boost from BCE’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.30 dividend on an annualized basis and a yield of 4.89%. BCE’s payout ratio is presently 87.30%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Airain ltd purchased a new position in BCE during the second quarter worth $374,000. Reaves W H & Co. Inc. boosted its position in BCE by 5.5% in the second quarter. Reaves W H & Co. Inc. now owns 1,959,765 shares of the utilities provider’s stock worth $88,268,000 after buying an additional 102,629 shares during the last quarter. USS Investment Management Ltd boosted its position in BCE by 9.0% in the second quarter. USS Investment Management Ltd now owns 138,728 shares of the utilities provider’s stock worth $6,240,000 after buying an additional 11,400 shares during the last quarter. Mastrapasqua Asset Management Inc. boosted its position in BCE by 69.3% in the second quarter. Mastrapasqua Asset Management Inc. now owns 16,925 shares of the utilities provider’s stock worth $762,000 after buying an additional 6,925 shares during the last quarter. Finally, Genesee Valley Trust Co. boosted its position in BCE by 12.5% in the second quarter. Genesee Valley Trust Co. now owns 8,528 shares of the utilities provider’s stock worth $384,000 after buying an additional 945 shares during the last quarter. 43.99% of the stock is owned by institutional investors.
BCE Company Profile
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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