BCE (NYSE:BCE) Issues Quarterly Earnings Results

BCE (NYSE:BCE) (TSE:BCE) posted its earnings results on Thursday. The utilities provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02, Morningstar.com reports. The company had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.90 billion. BCE had a net margin of 12.56% and a return on equity of 18.66%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share. BCE updated its FY19 guidance to $3.48-3.58 EPS and its FY 2019 guidance to $2.65-2.72 EPS.

Shares of NYSE BCE traded up $0.22 during trading hours on Friday, hitting $46.14. 1,341,600 shares of the stock were exchanged, compared to its average volume of 811,454. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The business’s 50 day moving average is $45.65. The stock has a market cap of $41.33 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 4.90 and a beta of 0.41. BCE has a one year low of $38.75 and a one year high of $47.14.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in BCE in the 4th quarter valued at $115,933,000. FIL Ltd boosted its holdings in BCE by 11.8% in the 1st quarter. FIL Ltd now owns 14,041,935 shares of the utilities provider’s stock valued at $623,526,000 after purchasing an additional 1,487,023 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in BCE by 213.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,015,616 shares of the utilities provider’s stock valued at $91,926,000 after purchasing an additional 1,372,333 shares during the period. Schafer Cullen Capital Management Inc boosted its holdings in BCE by 33.5% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 4,693,979 shares of the utilities provider’s stock valued at $217,284,000 after purchasing an additional 1,178,936 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in BCE in the 1st quarter valued at $63,915,000. 43.72% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on BCE. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday. TD Securities raised shares of BCE from a “hold” rating to a “buy” rating and set a $44.38 target price for the company in a research report on Tuesday, June 18th. BMO Capital Markets reissued an “average” rating and issued a $63.00 target price on shares of BCE in a research report on Friday. Citigroup downgraded shares of BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Finally, Barclays reaffirmed an “average” rating and set a $66.00 price objective on shares of BCE in a report on Sunday, May 5th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $54.90.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Earnings History for BCE (NYSE:BCE)

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