BCE (TSE:BCE) Issues Earnings Results

BCE (TSE:BCE) (NYSE:BCE) posted its quarterly earnings results on Thursday. The company reported C$0.74 EPS for the quarter, FiscalAI reports. BCE had a return on equity of 27.73% and a net margin of 25.89%. The firm had revenue of C$6.18 billion during the quarter.

BCE Price Performance

BCE traded down C$0.26 during trading hours on Friday, hitting C$30.57. The company’s stock had a trading volume of 6,009,816 shares, compared to its average volume of 4,416,097. The business’s 50-day moving average price is C$29.79 and its 200-day moving average price is C$32.43. The company has a current ratio of 0.73, a quick ratio of 0.43 and a debt-to-equity ratio of 175.06. BCE has a 12 month low of C$26.66 and a 12 month high of C$36.25. The stock has a market cap of C$28.51 billion, a price-to-earnings ratio of 4.54, a P/E/G ratio of 4.67 and a beta of 0.41.

BCE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 15th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 5.7%. The ex-dividend date was Tuesday, September 15th. BCE’s payout ratio is currently 25.96%.

Insider Buying and Selling

In other news, Director Louis Vachon purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was purchased at an average cost of C$30.63 per share, with a total value of C$306,300.00. Following the purchase, the director owned 100,000 shares in the company, valued at approximately C$3,063,000. This trade represents a 11.11% increase in their ownership of the stock. 0.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BCE has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their target price on BCE from C$39.00 to C$36.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. National Bank Financial dropped their price objective on shares of BCE from C$38.00 to C$36.00 and set an “outperform” rating on the stock in a research note on Thursday, October 1st. Canaccord Genuity Group raised shares of BCE from a “hold” rating to a “buy” rating and set a C$32.00 price objective on the stock in a research report on Tuesday, October 13th. Raymond James Financial set a C$37.00 price objective on shares of BCE and gave the company a “market perform” rating in a report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce dropped their price objective on shares of BCE from C$39.00 to C$38.00 and set an “outperformer” rating on the stock in a report on Thursday, October 8th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$37.42.

BCE Company Profile

Bell is Canada’s largest communications company 1, leading the way in advanced fibre and wireless networks, enterprise services and digital media. By delivering next-generation technology that leverages cloud-based and AI-driven solutions, we’re keeping customers connected, informed and entertained while enabling businesses to compete on the world stage.