$4.73 Billion in Sales Expected for BCE Inc. (NYSE:BCE) This Quarter


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Analysts expect that BCE Inc. (NYSE:BCE) (TSE:BCE) will post $4.73 billion in sales for the current quarter, according to Zacks. Two analysts have provided estimates for BCE’s earnings, with the lowest sales estimate coming in at $4.68 billion and the highest estimate coming in at $4.77 billion. BCE reported sales of $4.79 billion in the same quarter last year, which would suggest a negative year over year growth rate of 1.3%. The company is scheduled to issue its next quarterly earnings results on Thursday, February 4th.

According to Zacks, analysts expect that BCE will report full year sales of $17.57 billion for the current financial year, with estimates ranging from $17.33 billion to $17.86 billion. For the next year, analysts forecast that the business will post sales of $18.04 billion, with estimates ranging from $17.74 billion to $18.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow BCE.

BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Tuesday, November 10th. The utilities provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.21. The business had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.70 billion. BCE had a net margin of 10.21% and a return on equity of 16.12%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share.

BCE has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on shares of BCE from $59.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Friday, November 6th. BidaskClub downgraded BCE from a “hold” rating to a “sell” rating in a research report on Tuesday, December 22nd. Finally, Barclays assumed coverage on shares of BCE in a research report on Friday, October 2nd. They set an “equal weight” rating and a $43.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. BCE has an average rating of “Hold” and a consensus price target of $55.00.

Several hedge funds have recently made changes to their positions in BCE. Chemung Canal Trust Co. lifted its stake in BCE by 44.4% in the fourth quarter. Chemung Canal Trust Co. now owns 9,450 shares of the utilities provider’s stock valued at $404,000 after buying an additional 2,906 shares during the period. Pacifica Partners Inc. increased its holdings in shares of BCE by 3.7% during the 4th quarter. Pacifica Partners Inc. now owns 26,663 shares of the utilities provider’s stock worth $1,136,000 after acquiring an additional 950 shares during the last quarter. Nexus Investment Management ULC boosted its stake in BCE by 2.6% in the 4th quarter. Nexus Investment Management ULC now owns 77,576 shares of the utilities provider’s stock valued at $3,333,000 after purchasing an additional 2,000 shares during the period. HM Payson & Co. lifted its position in shares of BCE by 19.2% during the 3rd quarter. HM Payson & Co. now owns 2,603 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 419 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of BCE by 2.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 11,266 shares of the utilities provider’s stock worth $467,000 after buying an additional 251 shares during the last quarter. Institutional investors own 45.01% of the company’s stock.

Shares of BCE stock traded down $0.02 during midday trading on Wednesday, hitting $43.20. The company had a trading volume of 812,248 shares, compared to its average volume of 1,293,631. BCE has a 12-month low of $31.66 and a 12-month high of $49.26. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 1.46. The stock has a market cap of $39.07 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 4.40 and a beta of 0.39. The company has a fifty day simple moving average of $43.71 and a 200 day simple moving average of $42.58.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 15th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Monday, December 14th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.79%. BCE’s payout ratio is 99.24%.

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.

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