BCE hikes dividend, beats profit estimates on higher wireless subscriptions

Eileen GuzmanFeb 11, 2018

BCE, the owner of Bell Mobility, Virgin Mobile and Lucky Mobile, had a total of 158,514 net wireless activations during the quarter, including 175,204 postpaid subscriptions - ahead of a consensus estimate of about 113,000. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.44.

Telus's net income rose to C$282 million ($224 million) from C$87 million a year earlier.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Friday, March 9th will be given a dividend of $0.402 per share.

Barclays Capital analyst Phillip Huang wrote in a note to clients that Bell seems to have taken "significant market share" during a five-day promo in mid-December - a period when Rogers suffered technical problems. Bank of America assumed coverage on BCE in a research report on Tuesday, November 21st. The ex-dividend date of this dividend is Thursday, September 14th. They now have an outperform rating on the stock. This represents a $2.30 annualized dividend and a dividend yield of 4.81%. BCE's payout ratio is now 87.30%. Royal Bank of Canada increased their price target on shares of BCE from C$61.00 to C$62.00 and gave the stock a sector perform rating in a research note on Friday, November 3rd.

BCE (TSE:BCE) (NYSE:BCE) had its price objective cut by National Bank Financial from C$64.00 to C$63.00 in a report published on Thursday, February 1st. Morgan Stanley boosted their price objective on shares of TELUS from $48.00 to $51.00 and gave the company an "equal weight" rating in a research report on Friday, November 17th. Finally, Scotiabank upgraded TELUS from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. Finally, BlackRock Inc. lifted its position in BCE by 35.8% during the second quarter. The company now has a consensus rating of "Buy" and an average target price of $56.00. The stock had a trading volume of 1,210,000 shares, compared to its average volume of 943,852.

Analysts expect that BCE Inc. This is a boost from BCE's previous quarterly dividend of $0.56. Cetera Investment Advisers now owns 12,643 shares of the utilities provider's stock worth $570,000 after purchasing an additional 629 shares during the last quarter. APG Asset Management N.V. now owns 4,492,016 shares of the utilities provider's stock worth $209,976,000 after acquiring an additional 2,481,400 shares during the period. The institutional investor purchased 157,052 shares of the utilities provider's stock, valued at approximately $7,062,000.

ILLEGAL ACTIVITY NOTICE: "TELUS Co". If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of worldwide copyright laws.

Telus seems to have held its own in wireless against Bell during the quarter in terms of market share.

TELUS Corporation (TELUS) is a telecommunications company. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

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