National Bank Financial Comments on BCE Inc.’s Q3 2016 Earnings (BCE)
BCE Inc. (NYSE:BCE) – Analysts at National Bank Financial issued their Q3 2016 earnings per share estimates for shares of BCE in a note issued to investors on Thursday. National Bank Financial analyst A. Shine forecasts that the brokerage will post earnings of $0.68 per share for the quarter.
A number of other analysts have also weighed in on BCE. Zacks Investment Research lowered BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Citigroup Inc. increased their price objective on BCE from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, July 19th. Desjardins reissued a “hold” rating and set a $64.00 price objective on shares of BCE in a research note on Wednesday, August 10th. BMO Capital Markets reissued a “buy” rating and set a $65.00 price objective on shares of BCE in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $66.00 price objective (up previously from $62.00) on shares of BCE in a research note on Sunday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $57.30.
Shares of BCE (NYSE:BCE) opened at 44.77 on Monday. The firm has a market cap of $38.93 billion, a P/E ratio of 18.58 and a beta of 0.40. The company has a 50-day moving average of $46.60 and a 200 day moving average of $46.73. BCE has a 52-week low of $35.96 and a 52-week high of $49.03.
BCE (NYSE:BCE) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. BCE had a net margin of 13.02% and a return on equity of 22.89%. The business earned $5.34 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the firm posted $0.87 EPS. BCE’s revenue was up .3% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the company. TD Asset Management Inc. increased its position in BCE by 2.5% in the second quarter. TD Asset Management Inc. now owns 19,024,630 shares of the company’s stock worth $895,603,000 after buying an additional 463,198 shares during the period. CIBC World Markets Inc. increased its position in BCE by 1.7% in the second quarter. CIBC World Markets Inc. now owns 15,513,050 shares of the company’s stock worth $733,922,000 after buying an additional 257,656 shares during the period. FMR LLC increased its position in BCE by 3.8% in the second quarter. FMR LLC now owns 12,488,432 shares of the company’s stock worth $591,001,000 after buying an additional 459,100 shares during the period. Wellington Management Group LLP increased its position in BCE by 0.8% in the first quarter. Wellington Management Group LLP now owns 12,303,401 shares of the company’s stock worth $562,913,000 after buying an additional 93,906 shares during the period. Finally, 1832 Asset Management L.P. increased its position in BCE by 3.4% in the first quarter. 1832 Asset Management L.P. now owns 9,724,089 shares of the company’s stock worth $659,196,000 after buying an additional 318,919 shares during the period. Institutional investors and hedge funds own 44.50% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.65%. BCE’s dividend payout ratio (DPR) is 88.14%.
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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