Cormark Comments on BCE Inc.’s FY2020 Earnings (BCE)

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BCE Inc. (NYSE:BCE) (TSE:BCE) – Investment analysts at Cormark issued their FY2020 earnings per share estimates for shares of BCE in a research report issued on Friday, February 8th, according to Zacks Investment Research. Cormark analyst D. Mcfadgen expects that the utilities provider will post earnings per share of $2.76 for the year.

BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, February 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.19 billion. BCE had a return on equity of 18.87% and a net margin of 12.30%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded BCE from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. National Bank Financial downgraded BCE from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. BCE presently has a consensus rating of “Hold” and a consensus target price of $45.50.

Shares of NYSE:BCE traded down $0.01 during midday trading on Monday, reaching $43.81. 1,015,600 shares of the company’s stock were exchanged, compared to its average volume of 976,560. The company has a market capitalization of $39.66 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 4.73 and a beta of 0.47. The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 1.18. BCE has a fifty-two week low of $38.75 and a fifty-two week high of $44.74.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in shares of BCE by 1,649.6% in the 3rd quarter. SG Americas Securities LLC now owns 43,739 shares of the utilities provider’s stock valued at $1,772,000 after buying an additional 41,239 shares during the period. Northern Trust Corp boosted its stake in shares of BCE by 10.3% in the 2nd quarter. Northern Trust Corp now owns 857,524 shares of the utilities provider’s stock valued at $34,721,000 after buying an additional 79,823 shares during the period. Virtu Financial LLC boosted its stake in shares of BCE by 153.2% in the 4th quarter. Virtu Financial LLC now owns 27,386 shares of the utilities provider’s stock valued at $1,083,000 after buying an additional 16,572 shares during the period. Pictet Asset Management Ltd. purchased a new position in shares of BCE in the 3rd quarter valued at about $3,994,000. Finally, Lincluden Management Ltd. purchased a new position in shares of BCE in the 4th quarter valued at about $77,553,000. 42.89% of the stock is owned by institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a $0.604 dividend. This is an increase from BCE’s previous quarterly dividend of $0.57. This represents a $2.42 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend is Thursday, March 14th. BCE’s payout ratio is currently 83.39%.

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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