BCE Inc. (NYSE:BCE – Get Rating) (TSE:BCE) – Research analysts at National Bank Financial issued their Q3 2022 EPS estimates for BCE in a research report issued on Wednesday, September 28th. National Bank Financial analyst A. Shine expects that the utilities provider will earn $0.61 per share for the quarter. The consensus estimate for BCE's current full-year earnings is $2.60 per share.
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BCE (NYSE:BCE – Get Rating) (TSE:BCE) last issued its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. The firm had revenue of $5.86 billion for the quarter, compared to analysts' expectations of $5.87 billion. BCE had a net margin of 12.40% and a return on equity of 15.73%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share.
BCE has been the topic of several other reports. Barclays upped their price objective on shares of BCE from $49.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Friday, August 5th. Canaccord Genuity Group decreased their price objective on shares of BCE from C$70.00 to C$66.00 in a research note on Friday, July 22nd. Finally, Scotiabank increased their price target on shares of BCE from C$68.50 to C$69.00 in a research note on Tuesday, September 6th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $65.80.
BCE Price Performance
Shares of BCE stock opened at $41.94 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $38.25 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 3.87 and a beta of 0.49. BCE has a 1-year low of $41.89 and a 1-year high of $59.34. The firm's 50-day moving average price is $48.44 and its two-hundred day moving average price is $51.39.
Hedge Funds Weigh In On BCE
A number of hedge funds and other institutional investors have recently bought and sold shares of BCE. Eubel Brady & Suttman Asset Management Inc. bought a new position in BCE in the first quarter valued at approximately $12,960,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in BCE by 53.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,375,600 shares of the utilities provider's stock valued at $742,107,000 after acquiring an additional 4,661,300 shares during the last quarter. Bank of Nova Scotia boosted its stake in BCE by 47.9% in the second quarter. Bank of Nova Scotia now owns 13,889,035 shares of the utilities provider's stock valued at $682,737,000 after acquiring an additional 4,501,302 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in BCE by 42.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,606,761 shares of the utilities provider's stock valued at $477,875,000 after acquiring an additional 2,562,806 shares during the last quarter. Finally, FMR LLC boosted its stake in BCE by 238.7% in the second quarter. FMR LLC now owns 3,153,606 shares of the utilities provider's stock valued at $155,016,000 after acquiring an additional 2,222,467 shares during the last quarter. 43.83% of the stock is owned by institutional investors.
BCE Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be paid a $0.719 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This is a boost from BCE's previous quarterly dividend of $0.72. This represents a $2.88 dividend on an annualized basis and a yield of 6.86%. BCE's dividend payout ratio (DPR) is presently 114.86%.
BCE Company Profile
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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 wireless voice and data communication products and services, as well as consumer electronics products.
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