BCE (NYSE:BCE) Updates FY 2021 Earnings Guidance

BCE (NYSE:BCE) (TSE:BCE) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.422-$2.542 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.590. The company issued revenue guidance of $18.54 billion-$19.08 billion, compared to the consensus revenue estimate of $19.14 billion.

BCE stock traded up $0.18 during trading hours on Thursday, hitting $51.39. The company had a trading volume of 682,417 shares, compared to its average volume of 1,206,571. The firm has a market cap of $46.70 billion, a PE ratio of 19.84, a PEG ratio of 4.30 and a beta of 0.44. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.94 and a quick ratio of 0.89. BCE has a one year low of $42.17 and a one year high of $53.00. The firm has a 50-day moving average of $50.94 and a 200 day moving average of $50.47.

BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, November 4th. The utilities provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.17. BCE had a net margin of 13.13% and a return on equity of 16.49%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts expect that BCE will post 2.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 15th. Stockholders of record on Wednesday, December 15th will be issued a dividend of $0.7047 per share. The ex-dividend date of this dividend is Tuesday, December 14th. This is a boost from BCE’s previous quarterly dividend of $0.70. This represents a $2.82 annualized dividend and a dividend yield of 5.49%. BCE’s dividend payout ratio (DPR) is currently 106.95%.

Several brokerages have recently commented on BCE. BMO Capital Markets raised their target price on shares of BCE from C$61.50 to C$63.50 and gave the stock an outperform rating in a report on Friday, August 6th. TD Securities cut shares of BCE from a buy rating to a hold rating and lowered their target price for the stock from $70.00 to $67.00 in a report on Friday, November 5th. CIBC raised their target price on shares of BCE from C$64.00 to C$65.00 and gave the stock a neutral rating in a report on Friday, November 5th. Royal Bank of Canada increased their price target on shares of BCE from $61.00 to $63.00 and gave the stock a sector perform rating in a research report on Friday, August 6th. Finally, Scotiabank increased their price target on shares of BCE from C$66.00 to C$68.00 and gave the stock an outperform rating in a research report on Friday, November 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $61.14.

About BCE

BCE, Inc is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers.

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Earnings History and Estimates for BCE (NYSE:BCE)

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