Thursday, 17 October, 2019

BCE hikes dividend, beats profit estimates on higher wireless subscriptions

George Cope president and CEO of BCE Inc. looks on during the 2017 annual general shareholders meeting in Ottawa. BCE the owner of Bell Mobility Virgin Mobile and Lucky Mobile had a total of 158,514 net wireless activations during the fourth quarter BCE hikes dividend, beats profit estimates on higher wireless subscriptions
Russell Knight | 09 February, 2018, 18:53

(NYSE:BCE) (TSE:BCE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. BlackRock Inc. now owns 2,062,333 shares of the utilities provider's stock worth $92,888,000 after purchasing an additional 543,921 shares during the last quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Marathon Asset Management LLP bought a new stake in shares of BCE during the third quarter worth $25,802,000.

Bridgewater Associates LP purchased a new stake in BCE, Inc. Guardian Capital LP grew its holdings in BCE by 1.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,600,372 shares of the utilities provider's stock valued at $207,414,000 after purchasing an additional 53,409 shares in the last quarter. The stock has climbed almost 3 percent in the last 12 months. The fund owned 22,077 shares of the utilities provider's stock after purchasing an additional 1,180 shares during the quarter.

BCE has been the topic of a number of recent analyst reports. Canaccord Genuity reiterated a "hold" rating and set a $60.00 price target on shares of BCE in a report on Thursday, November 2nd. Earnings, adjusted for non-recurring costs, were 60 cents per share.

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Frank Kaminsky came off the bench for 17 points, and Dwight Howard had seven points and 15 rebounds for Charlotte. Washington appeared to have this game won, holding a three-point lead in the closing seconds of regulation.

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The company also forecast an adjusted profit of $3.42-$3.52 for 2018, higher than the $3.39 it reported for 2017. JPMorgan Chase & Co. lifted their price target on shares of BCE from C$65.00 to C$68.00 in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of "Buy" and a consensus target price of $55.80. The correct version of this story can be viewed at https://stocknewstimes.com/2018/02/09/bce-inc-bce-shares-bought-by-ae-wealth-management-llc.html. (NYSE:BCE) traded down 0.55% during trading on Thursday, hitting $46.97. 697,575 shares of the company's stock traded hands, compared to its average volume of 925,368. BCE, Inc. has a one year low of $41.83 and a one year high of $48.27. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.51 and a quick ratio of 0.47.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Thursday, February 8th. Morgan Stanley had estimated 121,000 subscribers for the quarter. BCE had a return on equity of 21.08% and a net margin of 12.85%.

Operating revenue rose to C$3.48 billion from C$3.31 billion. The firm's revenue was up 4.9% compared to the same quarter a year ago. The company's revenue totalled almost $3.47 billion, up from almost $3.31 billion in the same period a year earlier. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

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