BCE (BCE) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

BCE (NYSE:BCE) (TSE:BCE) posted its earnings results on Thursday. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03, Morningstar.com reports. BCE had a return on equity of 18.67% and a net margin of 12.00%. The firm had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the company earned $0.86 EPS. BCE’s revenue was up 3.2% on a year-over-year basis. BCE updated its FY 2018 guidance to $3.45-3.55 EPS.

NYSE BCE traded down $0.39 during trading hours on Friday, hitting $40.41. 953,839 shares of the company were exchanged, compared to its average volume of 896,377. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.50 and a quick ratio of 0.46. BCE has a 52-week low of $38.75 and a 52-week high of $49.06. The company has a market cap of $35.27 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 4.19 and a beta of 0.29.

A number of hedge funds and other institutional investors have recently modified their holdings of BCE. Lenox Wealth Management Inc. grew its stake in BCE by 42.2% during the 2nd quarter. Lenox Wealth Management Inc. now owns 4,958 shares of the utilities provider’s stock worth $204,000 after buying an additional 1,472 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in BCE by 0.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 421,688 shares of the utilities provider’s stock worth $17,087,000 after buying an additional 1,678 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its stake in BCE by 17.2% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 11,952 shares of the utilities provider’s stock worth $484,000 after buying an additional 1,756 shares during the last quarter. Andra AP fonden grew its stake in BCE by 8.0% during the 3rd quarter. Andra AP fonden now owns 24,400 shares of the utilities provider’s stock worth $1,277,000 after buying an additional 1,800 shares during the last quarter. Finally, Forte Capital LLC ADV grew its stake in BCE by 8.9% during the 2nd quarter. Forte Capital LLC ADV now owns 22,477 shares of the utilities provider’s stock worth $910,000 after buying an additional 1,837 shares during the last quarter. Institutional investors own 42.88% of the company’s stock.

Several equities analysts recently issued reports on BCE shares. TD Securities reissued a “hold” rating on shares of BCE in a research note on Wednesday, October 24th. Royal Bank of Canada restated a “hold” rating on shares of BCE in a report on Friday. Desjardins upgraded BCE from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. ValuEngine upgraded BCE from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Scotiabank upgraded BCE from a “sector perform” rating to a “buy” rating in a report on Wednesday, October 10th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $53.40.

BCE Company Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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Earnings History for BCE (NYSE:BCE)

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