Zacks: Analysts Expect BCE Inc. (NYSE:BCE) Will Post Quarterly Sales of $4.68 Billion

Wall Street brokerages forecast that BCE Inc. (NYSE:BCE) (TSE:BCE) will post $4.68 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for BCE’s earnings, with estimates ranging from $4.63 billion to $4.73 billion. BCE posted sales of $3.86 billion in the same quarter last year, which would indicate a positive year over year growth rate of 21.2%. The company is scheduled to report its next earnings results before the market opens on Thursday, August 5th.

According to Zacks, analysts expect that BCE will report full year sales of $19.38 billion for the current year, with estimates ranging from $19.07 billion to $19.70 billion. For the next year, analysts expect that the firm will report sales of $19.97 billion, with estimates ranging from $19.40 billion to $20.34 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for BCE.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Wednesday, April 28th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.20. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.63 billion. BCE had a return on equity of 16.21% and a net margin of 11.23%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share.

BCE has been the topic of several analyst reports. Royal Bank of Canada increased their price objective on BCE from $59.00 to $60.00 and gave the company a “sector perform” rating in a research note on Friday, April 30th. Canaccord Genuity increased their price objective on BCE from $58.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, April 30th. Wells Fargo & Company raised their price target on BCE from $51.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, May 19th. Desjardins raised their price target on BCE from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, May 3rd. Finally, TD Securities raised their price target on BCE from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $58.15.

Shares of NYSE BCE traded down $0.02 during mid-day trading on Friday, hitting $49.08. The company had a trading volume of 43,966 shares, compared to its average volume of 845,447. The stock has a market cap of $44.45 billion, a P/E ratio of 23.70, a PEG ratio of 4.03 and a beta of 0.44. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. BCE has a 1-year low of $39.91 and a 1-year high of $50.90. The business’s 50-day moving average price is $49.64.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Tuesday, June 15th were issued a dividend of $0.7072 per share. The ex-dividend date was Monday, June 14th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.76%. This is a positive change from BCE’s previous quarterly dividend of $0.68. BCE’s dividend payout ratio (DPR) is currently 128.89%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia grew its holdings in shares of BCE by 7.4% during the first quarter. Bank of Nova Scotia now owns 14,753,048 shares of the utilities provider’s stock worth $665,872,000 after buying an additional 1,010,198 shares during the last quarter. Toronto Dominion Bank lifted its position in BCE by 0.3% in the first quarter. Toronto Dominion Bank now owns 9,649,969 shares of the utilities provider’s stock valued at $457,236,000 after purchasing an additional 26,403 shares during the period. Scotia Capital Inc. lifted its position in BCE by 5.2% in the first quarter. Scotia Capital Inc. now owns 7,053,132 shares of the utilities provider’s stock valued at $318,187,000 after purchasing an additional 348,366 shares during the period. Principal Financial Group Inc. lifted its position in BCE by 4.3% in the first quarter. Principal Financial Group Inc. now owns 5,522,752 shares of the utilities provider’s stock valued at $249,297,000 after purchasing an additional 228,829 shares during the period. Finally, Cullen Capital Management LLC lifted its position in BCE by 373.5% in the first quarter. Cullen Capital Management LLC now owns 5,037,705 shares of the utilities provider’s stock valued at $227,402,000 after purchasing an additional 3,973,856 shares during the period. 43.97% of the stock is currently owned by hedge funds and other institutional investors.

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 through 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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Earnings History and Estimates for BCE (NYSE:BCE)

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