According to Zacks, “BCE’s subsidiary, Bell Canada leads the Canadian broadband communications market through its recent launch of Home Hub 3000 WiFi services with Wireless 4K Whole Home PVR from Fibe TV. Increasing deployment of Gigabit Fibe , 4G LTE mobile networks, upcoming 5G networks, IP phone services and post-paid businesses should help the company gain customers. BCE’s recent acquisition of Q9 Networks fully should boost cloud suite. Thus, BCE’s strategic moves to enhance employee skills, increase capital investments and reduce expenditures though impressive, may impact the company’s financials and growth prospects if not executed properly. Moreover, stringent regulatory measures, decline in network access services lines, price competition, exposure to labor union issues covered by collective bargaining agreements leading to work disruptions and higher labor costs, operational risks and construction and launch delays are major risks.”
Other research analysts also recently issued reports about the company. BMO Capital Markets reaffirmed a buy rating and set a $65.00 price target on shares of BCE in a research note on Friday, August 5th. Desjardins reissued a hold rating and issued a $64.00 price objective on shares of BCE in a research note on Wednesday, August 10th. Citigroup Inc. downgraded BCE from a buy rating to a neutral rating in a research note on Thursday, May 26th. Royal Bank Of Canada reissued an outperform rating and issued a $61.00 price objective on shares of BCE in a research note on Thursday, June 9th. Finally, JPMorgan Chase & Co. reissued an overweight rating and issued a $66.00 price objective (up from $62.00) on shares of BCE in a research note on Sunday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $57.40.
BCE (NYSE:BCE) opened at 45.86 on Wednesday. The company has a market capitalization of $39.88 billion, a P/E ratio of 19.13 and a beta of 0.43. BCE has a 52 week low of $35.96 and a 52 week high of $49.03. The stock’s 50 day moving average price is $47.27 and its 200 day moving average price is $46.66.
BCE (NYSE:BCE) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. BCE had a return on equity of 22.89% and a net margin of 13.02%. The business had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts anticipate that BCE will post $2.69 earnings per share for the current year.
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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.54%. The ex-dividend date is Tuesday, September 13th. BCE’s dividend payout ratio (DPR) is 88.56%.
A number of institutional investors have recently made changes to their positions in BCE. Norges Bank purchased a new position in shares of BCE during the fourth quarter valued at $101,480,000. Fox Run Management L.L.C. purchased a new position in shares of BCE during the first quarter valued at $278,000. Sanders Morris Harris Inc. purchased a new position in shares of BCE during the first quarter valued at $2,977,000. Virginia Retirement System purchased a new position in shares of BCE during the first quarter valued at $4,631,000. Finally, Duff & Phelps Investment Management Co. raised its position in shares of BCE by 20.7% in the first quarter. Duff & Phelps Investment Management Co. now owns 1,792,607 shares of the company’s stock valued at $81,636,000 after buying an additional 307,860 shares during the period. 44.48% of the stock is owned by institutional investors and hedge funds.
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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