BCE Inc. (NYSE:BCE) Expected to Post Quarterly Sales of $4.61 Billion

Wall Street brokerages expect that BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) will report sales of $4.61 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for BCE’s earnings, with the lowest sales estimate coming in at $4.57 billion and the highest estimate coming in at $4.64 billion. BCE posted sales of $4.64 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 0.6%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that BCE will report full-year sales of $18.88 billion for the current fiscal year, with estimates ranging from $18.69 billion to $19.20 billion. For the next year, analysts forecast that the company will post sales of $19.39 billion, with estimates ranging from $18.98 billion to $19.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover BCE.

BCE (NYSE:BCEGet Rating) (TSE:BCE) last released its quarterly earnings data on Thursday, May 5th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.25. BCE had a return on equity of 15.85% and a net margin of 12.85%. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter last year, the business posted $0.62 EPS. BCE’s revenue for the quarter was up 2.5% on a year-over-year basis.

Several research firms recently weighed in on BCE. Royal Bank of Canada raised their price objective on BCE from C$69.00 to C$70.00 in a report on Friday, May 6th. CIBC lifted their target price on BCE from C$65.00 to C$67.00 in a report on Friday, February 4th. StockNews.com began coverage on BCE in a report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America downgraded BCE from a “buy” rating to a “neutral” rating in a report on Monday, March 14th. Finally, Desjardins lifted their target price on BCE from C$68.00 to C$70.00 in a report on Monday. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $66.50.

Large investors have recently made changes to their positions in the company. Capital Research Global Investors increased its position in BCE by 2.2% in the 4th quarter. Capital Research Global Investors now owns 30,063,234 shares of the utilities provider’s stock valued at $1,564,063,000 after buying an additional 651,805 shares in the last quarter. Franklin Resources Inc. increased its position in BCE by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 12,092,186 shares of the utilities provider’s stock valued at $605,026,000 after buying an additional 58,608 shares in the last quarter. Toronto Dominion Bank increased its position in BCE by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 9,913,483 shares of the utilities provider’s stock valued at $538,284,000 after buying an additional 918,122 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in BCE by 30.8% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,714,300 shares of the utilities provider’s stock valued at $454,014,000 after buying an additional 2,050,000 shares in the last quarter. Finally, Scotia Capital Inc. increased its position in BCE by 0.3% in the 3rd quarter. Scotia Capital Inc. now owns 7,241,389 shares of the utilities provider’s stock valued at $362,504,000 after buying an additional 20,774 shares in the last quarter. 44.77% of the stock is currently owned by institutional investors.

NYSE BCE opened at $52.97 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.43. BCE has a twelve month low of $48.12 and a twelve month high of $59.34. The company has a market cap of $48.30 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The business’s fifty day moving average is $55.35 and its 200 day moving average is $53.02.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date is Tuesday, June 14th. BCE’s dividend payout ratio is 110.81%.

About BCE (Get Rating)

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

See Also

Get a free copy of the Zacks research report on BCE (BCE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for BCE (NYSE:BCE)

Receive News & Ratings for BCE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE and related companies with MarketBeat.com's FREE daily email newsletter.