BCE Inc. (NYSE:BCE) – Investment analysts at National Bank Financial issued their Q3 2016 earnings estimates for shares of BCE in a research note issued on Thursday. National Bank Financial analyst A. Shine forecasts that the brokerage will earn $0.68 per share for the quarter.
BCE (NYSE:BCE) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. BCE had a return on equity of 22.89% and a net margin of 13.02%. The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The business’s revenue was up .3% compared to the same quarter last year.
A number of other research firms have also recently issued reports on BCE. Zacks Investment Research cut BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price objective on shares of BCE in a research report on Friday, August 5th. Desjardins reaffirmed a “hold” rating and issued a $64.00 price objective on shares of BCE in a research report on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $66.00 price objective (up from $62.00) on shares of BCE in a research report on Sunday, August 7th. Finally, Citigroup Inc. raised their price objective on BCE from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $57.30.
Shares of BCE (NYSE:BCE) opened at 45.13 on Monday. The company has a market capitalization of $39.24 billion, a PE ratio of 18.86 and a beta of 0.40. The firm has a 50-day moving average price of $46.44 and a 200-day moving average price of $46.75. BCE has a 12 month low of $35.96 and a 12 month high of $49.03.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.61%. BCE’s dividend payout ratio is presently 88.14%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Societe Generale acquired a new position in shares of BCE during the second quarter valued at approximately $118,000. First Interstate Bank boosted its position in shares of BCE by 62.9% in the second quarter. First Interstate Bank now owns 2,850 shares of the company’s stock worth $135,000 after buying an additional 1,100 shares during the period. Cribstone Capital Management LLC purchased a new position in shares of BCE during the second quarter worth about $170,000. Howland Capital Management LLC purchased a new position in shares of BCE during the second quarter worth about $204,000. Finally, Park Avenue Securities LLC purchased a new position in shares of BCE during the second quarter worth about $204,000. 44.50% of the stock is currently owned by institutional investors.