$4.47 Billion in Sales Expected for BCE Inc. (NYSE:BCE) This Quarter

Equities research analysts expect that BCE Inc. (NYSE:BCE) (TSE:BCE) will announce $4.47 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for BCE’s earnings, with estimates ranging from $4.46 billion to $4.49 billion. BCE posted sales of $4.53 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, October 31st.

According to Zacks, analysts expect that BCE will report full-year sales of $18.15 billion for the current financial year, with estimates ranging from $17.96 billion to $18.33 billion. For the next fiscal year, analysts expect that the business will report sales of $18.50 billion, with estimates ranging from $18.05 billion to $19.00 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for BCE.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.90 billion. BCE had a net margin of 12.51% and a return on equity of 19.15%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS.

Several analysts have commented on BCE shares. Zacks Investment Research cut shares of BCE from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Monday, September 9th. JPMorgan Chase & Co. cut shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research note on Monday, July 8th. TD Securities boosted their price target on shares of BCE from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. National Bank Financial upgraded shares of BCE from a “sector perform” rating to an “outperform” rating in a research note on Friday, September 20th. Finally, Desjardins cut shares of BCE to a “hold” rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $59.33.

A number of institutional investors have recently bought and sold shares of BCE. Grove Bank & Trust raised its stake in BCE by 1.2% during the 2nd quarter. Grove Bank & Trust now owns 22,486 shares of the utilities provider’s stock worth $1,022,000 after buying an additional 261 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in BCE by 8.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,475 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 271 shares during the period. Icon Wealth Partners LLC raised its stake in BCE by 4.2% during the second quarter. Icon Wealth Partners LLC now owns 6,943 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 278 shares during the period. Cordasco Financial Network raised its stake in BCE by 2.4% during the second quarter. Cordasco Financial Network now owns 12,438 shares of the utilities provider’s stock worth $566,000 after purchasing an additional 293 shares during the period. Finally, Riverhead Capital Management LLC raised its stake in BCE by 14.6% during the second quarter. Riverhead Capital Management LLC now owns 2,348 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 300 shares during the period. 43.85% of the stock is currently owned by institutional investors.

BCE stock traded up $0.20 during mid-day trading on Friday, hitting $49.13. The company had a trading volume of 39,037 shares, compared to its average volume of 1,094,267. The company has a market capitalization of $43.78 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 5.17 and a beta of 0.39. BCE has a 12-month low of $38.75 and a 12-month high of $49.30. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 1.33. The company has a 50-day moving average price of $47.86 and a 200 day moving average price of $46.02.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $0.601 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.89%. This is a boost from BCE’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, September 13th. BCE’s dividend payout ratio is currently 87.82%.

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 and Estimates for BCE (NYSE:BCE)

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