BCE (NYSE:BCE) Issues FY 2022 Earnings Guidance

BCE (NYSE:BCE – Get Rating) (TSE:BCE) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $2.57-$2.69 for the period, compared to the consensus EPS estimate of $2.63. The company issued revenue guidance of $18.69 billion-$19.43 billion, compared to the consensus revenue estimate of $18.86 billion.

Several analysts have issued reports on the company. Royal Bank of Canada boosted their price target on BCE from C$69.00 to C$70.00 in a report on Friday, May 6th. National Bank Financial boosted their price target on BCE from C$70.00 to C$71.00 in a report on Friday, February 4th. StockNews.com assumed coverage on BCE in a report on Thursday, March 31st. They set a hold rating for the company. Canaccord Genuity Group cut their price target on BCE from C$71.00 to C$70.00 and set a hold rating for the company in a report on Friday, May 6th. Finally, Desjardins boosted their price target on BCE from C$68.00 to C$70.00 in a report on Monday, May 9th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $66.50.

Shares of NYSE:BCE traded up $0.73 during mid-day trading on Monday, reaching $53.64. The stock had a trading volume of 63,335 shares, compared to its average volume of 1,492,006. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market cap of $48.91 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 4.78 and a beta of 0.47. BCE has a 1 year low of $48.12 and a 1 year high of $59.34. The business’s 50 day moving average price is $55.17 and its 200 day moving average price is $53.06.

BCE (NYSE:BCE – Get Rating) (TSE:BCE) last posted its earnings results on Thursday, May 5th. The utilities provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.86 billion. BCE had a return on equity of 15.75% and a net margin of 12.85%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. Analysts predict that BCE will post 2.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be given a $0.715 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 5.33%. BCE’s dividend payout ratio is currently 110.81%.

Hedge funds have recently modified their holdings of the business. Laurel Wealth Advisors Inc. raised its position in BCE by 7.7% during the first quarter. Laurel Wealth Advisors Inc. now owns 35,199 shares of the utilities provider’s stock valued at $1,953,000 after purchasing an additional 2,510 shares during the period. Edgestream Partners L.P. raised its position in BCE by 54.1% during the first quarter. Edgestream Partners L.P. now owns 23,963 shares of the utilities provider’s stock valued at $1,329,000 after purchasing an additional 8,412 shares during the period. Advisors Asset Management Inc. raised its position in BCE by 19.0% during the fourth quarter. Advisors Asset Management Inc. now owns 23,569 shares of the utilities provider’s stock valued at $1,227,000 after purchasing an additional 3,758 shares during the period. Prudential Financial Inc. raised its position in BCE by 13.2% during the first quarter. Prudential Financial Inc. now owns 21,207 shares of the utilities provider’s stock valued at $1,176,000 after purchasing an additional 2,478 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its position in BCE by 213.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 17,681 shares of the utilities provider’s stock valued at $981,000 after purchasing an additional 12,037 shares during the period. Institutional investors and hedge funds own 44.77% of the company’s stock.

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.

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