BCE Inc. (NYSE:BCE) (TSE:BCE) declared a quarterly dividend on Wednesday, August 1st, NASDAQ reports. Shareholders of record on Friday, September 14th will be paid a dividend of 0.58 per share by the utilities provider on Monday, October 15th. This represents a $2.32 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date of this dividend is Thursday, September 13th. This is a boost from BCE’s previous quarterly dividend of $0.56.
BCE has decreased its dividend by an average of 0.9% per year over the last three years. BCE has a dividend payout ratio of 113.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect BCE to earn $2.80 per share next year, which means the company may not be able to cover its $3.02 annual dividend with an expected future payout ratio of 107.9%.
NYSE BCE traded down $0.29 on Friday, reaching $40.13. 551,731 shares of the company’s stock traded hands, compared to its average volume of 572,242. BCE has a 12 month low of $39.76 and a 12 month high of $49.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.50 and a quick ratio of 0.46. The stock has a market capitalization of $36.30 billion, a P/E ratio of 15.32, a PEG ratio of 4.33 and a beta of 0.31.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.19. BCE had a net margin of 12.00% and a return on equity of 18.67%. The business had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. equities analysts expect that BCE will post 2.67 earnings per share for the current fiscal year.
A number of research analysts have commented on the stock. Edward Jones upgraded shares of BCE from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. ValuEngine cut shares of BCE from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $56.00.
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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