BCE (NYSE:BCE) (TSE:BCE) announced its earnings results on Thursday. The utilities provider reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01, MarketWatch Earnings reports. BCE had a net margin of 12.30% and a return on equity of 18.83%. The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. BCE updated its FY19 guidance to $3.48 to $3.58 EPS and its FY 2019 guidance to $2.61-2.69 EPS.
Shares of BCE opened at $43.23 on Friday. BCE has a 12 month low of $38.75 and a 12 month high of $45.08. The firm has a market cap of $38.83 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 4.67 and a beta of 0.47. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 1.14.
A number of institutional investors and hedge funds have recently made changes to their positions in BCE. Lincluden Management Ltd. acquired a new stake in BCE in the fourth quarter valued at $77,553,000. The Manufacturers Life Insurance Company lifted its stake in BCE by 11.0% in the third quarter. The Manufacturers Life Insurance Company now owns 12,817,975 shares of the utilities provider’s stock valued at $519,384,000 after acquiring an additional 1,271,570 shares during the last quarter. Cullen Capital Management LLC lifted its stake in BCE by 251.3% in the third quarter. Cullen Capital Management LLC now owns 1,456,875 shares of the utilities provider’s stock valued at $59,033,000 after acquiring an additional 1,042,190 shares during the last quarter. CIBC Asset Management Inc lifted its stake in BCE by 20.0% in the third quarter. CIBC Asset Management Inc now owns 5,529,319 shares of the utilities provider’s stock valued at $223,841,000 after acquiring an additional 922,044 shares during the last quarter. Finally, Unigestion Holding SA lifted its stake in BCE by 67.5% in the third quarter. Unigestion Holding SA now owns 1,716,386 shares of the utilities provider’s stock valued at $69,543,000 after acquiring an additional 691,804 shares during the last quarter. Institutional investors and hedge funds own 42.24% of the company’s stock.
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BCE Company Profile
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.
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