BCE (NYSE:BCE) Issues FY 2021 Earnings Guidance

BCE (NYSE:BCE) (TSE:BCE) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $2.422-$2.542 for the period, compared to the Thomson Reuters consensus EPS 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.

Shares of NYSE BCE traded up $0.18 during mid-day trading on Thursday, reaching $51.39. 682,417 shares of the company’s stock traded hands, compared to its average volume of 1,206,571. The stock has a market cap of $46.70 billion, a P/E ratio of 19.84, a PEG ratio of 4.30 and a beta of 0.44. The business has a 50-day simple moving average of $50.94 and a 200 day simple moving average of $50.47. BCE has a 1-year low of $42.17 and a 1-year high of $53.00. 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 (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Thursday, November 4th. The utilities provider reported $0.82 earnings per share for the quarter, topping the 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 business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts anticipate that BCE will post 2.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, January 15th. Investors of record on Wednesday, December 15th will be issued a dividend of $0.7047 per share. The ex-dividend date 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 yield of 5.49%. BCE’s payout ratio is 106.95%.

BCE has been the topic of several analyst reports. Scotiabank boosted their price target on shares of BCE from C$66.00 to C$68.00 and gave the stock an outperform rating in a report on Friday, November 5th. Desjardins boosted their price target on shares of BCE from C$64.00 to C$66.00 and gave the stock a hold rating in a report on Monday, November 8th. CIBC boosted their price target 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. TD Securities cut shares of BCE from a buy rating to a hold rating and dropped their target price for the company from $70.00 to $67.00 in a research note on Friday, November 5th. Finally, BMO Capital Markets boosted their target price on shares of BCE from C$61.50 to C$63.50 and gave the company an outperform rating in a research note on Friday, August 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BCE has a consensus rating of Hold and an average price target 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.

Further Reading: Fiduciary

Earnings History and Estimates for BCE (NYSE:BCE)

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