FY2016 EPS Estimates for BCE Inc. Decreased by Analyst (BCE)
BCE Inc. (NYSE:BCE) – Research analysts at Cormark reduced their FY2016 earnings per share (EPS) estimates for BCE in a report issued on Wednesday. Cormark analyst D. Mcfadgen now anticipates that the brokerage will post earnings of $2.63 per share for the year, down from their prior forecast of $2.68. Cormark also issued estimates for BCE’s FY2017 earnings at $2.63 EPS and FY2018 earnings at $2.63 EPS.
Several other brokerages have also commented on BCE. Zacks Investment Research upgraded shares of BCE from a “sell” rating to a “hold” rating in a research note on Thursday, September 1st. Credit Suisse Group AG set a $58.00 target price on shares of BCE and gave the stock a “hold” rating in a research report on Sunday, November 6th. Citigroup Inc. raised their target price on shares of BCE from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a $66.00 target price (up from $62.00) on shares of BCE in a research report on Sunday, August 7th. Finally, Canaccord Genuity restated a “buy” rating on shares of BCE in a research report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. BCE currently has a consensus rating of “Hold” and a consensus target price of $59.22.
Shares of BCE (NYSE:BCE) opened at 42.43 on Thursday. The stock has a market cap of $36.92 billion, a price-to-earnings ratio of 17.99 and a beta of 0.38. BCE has a one year low of $35.96 and a one year high of $49.03. The company has a 50-day moving average of $45.29 and a 200 day moving average of $46.58.
BCE (NYSE:BCE) last posted its earnings results on Thursday, November 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.22. BCE had a net margin of 13.05% and a return on equity of 22.73%. The firm earned $5.41 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the business posted $0.93 EPS. The business’s revenue was up 1.2% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Thursday, December 15th will be issued a $0.509 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Tuesday, December 13th. BCE’s dividend payout ratio (DPR) is currently 88.14%.
Large investors have recently added to or reduced their stakes in the stock. Prudential PLC increased its stake in BCE by 65.9% in the first quarter. Prudential PLC now owns 22,400 shares of the company’s stock worth $1,020,000 after buying an additional 8,900 shares during the period. AMP Capital Investors Ltd increased its stake in BCE by 2.8% in the first quarter. AMP Capital Investors Ltd now owns 88,309 shares of the company’s stock worth $4,058,000 after buying an additional 2,378 shares during the period. Legal & General Group Plc increased its stake in BCE by 2.3% in the first quarter. Legal & General Group Plc now owns 1,421,628 shares of the company’s stock worth $65,055,000 after buying an additional 31,633 shares during the period. Envestnet Asset Management Inc. increased its stake in BCE by 53.8% in the first quarter. Envestnet Asset Management Inc. now owns 396,367 shares of the company’s stock worth $18,051,000 after buying an additional 138,702 shares during the period. Finally, A.R.T. Advisors LLC acquired a new stake in BCE during the first quarter worth approximately $491,000. 44.62% of the stock is owned by institutional investors.
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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