BCE, Inc. (NYSE:BCE) (TSE:BCE) – National Bank Financial boosted their FY2017 earnings per share (EPS) estimates for BCE in a research note issued on Wednesday. National Bank Financial analyst A. Shine now anticipates that the utilities provider will earn $2.65 per share for the year, up from their prior forecast of $2.50. National Bank Financial also issued estimates for BCE’s FY2018 earnings at $2.82 EPS.
A number of other research firms have also recently issued reports on BCE. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Thursday, June 29th. BidaskClub cut BCE from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Citigroup Inc. upgraded BCE from a “neutral” rating to a “buy” rating in a research report on Thursday, April 6th. Barclays PLC started coverage on BCE in a research report on Tuesday, March 21st. They issued an “overweight” rating and a $47.00 target price on the stock. Finally, Canaccord Genuity set a $60.00 target price on BCE and gave the company a “hold” rating in a research report on Tuesday, May 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $59.22.
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Shares of BCE (NYSE:BCE) opened at 45.96 on Monday. The company has a market cap of $41.34 billion, a price-to-earnings ratio of 18.17 and a beta of 0.36. The stock has a 50 day moving average of $44.92 and a 200 day moving average of $44.43. BCE has a 12-month low of $41.83 and a 12-month high of $49.03.
BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Wednesday, April 26th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. BCE had a net margin of 13.36% and a return on equity of 22.03%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. BCE’s revenue was up 2.2% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of BCE by 1.9% in the first quarter. Wellington Management Group LLP now owns 13,247,536 shares of the utilities provider’s stock worth $584,936,000 after buying an additional 244,009 shares during the last quarter. FMR LLC raised its stake in shares of BCE by 3.6% in the first quarter. FMR LLC now owns 12,274,108 shares of the utilities provider’s stock worth $543,445,000 after buying an additional 424,228 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of BCE by 9.0% in the first quarter. Vanguard Group Inc. now owns 6,839,144 shares of the utilities provider’s stock worth $302,769,000 after buying an additional 564,047 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, Letko Brosseau & Associates Inc. raised its stake in shares of BCE by 0.4% in the first quarter. Letko Brosseau & Associates Inc. now owns 6,323,053 shares of the utilities provider’s stock worth $279,464,000 after buying an additional 22,155 shares during the last quarter. Hedge funds and other institutional investors own 43.89% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Thursday, June 15th were given a $0.5316 dividend. This represents a $2.13 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Tuesday, June 13th. BCE’s dividend payout ratio is presently 85.89%.
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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