In a report released yesterday, Richard Choe from J.P. Morgan reiterated a Buy rating on BCE Inc (NYSE: BCE). The company’s shares opened today at $44.40.
Choe noted:
“continues to provide stable revenue and EBITDA growth. The Canadian wireless industry appears to have returned to growth with wireless competitors and BCE reporting solid wireless subscriber growth. Bell Canada reported better than expected postpaid adds of 107k vs our 80k estimate. Service revenue growth was even stronger than expected, but competition from handset subsidies negatively impacted margins. BCE’s video and broadband subscriber adds were negatively impacted by aggressive competition from cable. We could see BCE become more aggressive in defending its out of fiber footprint satellite base. The company continues to focus on wireline profitability and wireline margins came in at 41.7%, up 0.6% y/y. While the recent CRTC reset of wholesale rates will negatively impact BCE and other broadband providers, the acquisition of Q9 partially offsets the revenue loss from BCE’s ~500k wholesale subs.”
According to TipRanks.com, Choe is ranked #1385 out of 4164 analysts.
BCE Inc has an analyst consensus of Strong Buy.
The company has a one year high of $49.03 and a one year low of $35.96. Currently, BCE Inc has an average volume of 679.7K.
BCE, Inc. provides communication services to residential and business customers in Canada. The company offers various services, including bell mobility wireless, high-speed bell internet, bell satellite TV and bell fibe TV, bell home phone local and long distance and bell business markets internet protocol-broadband and information and communications technology services. It operates its business through four reportable segments: Bell Wireline, Bell Wireless, Bell Media and Bell Aliant. The Bell Wireline segment provides local telephone, long distance data and other communications services. The Bell Wireless segment provides integrated digital wireless voice and data services. The Bell Media segment provides its television programming services to broadcast distributors across Canada. The Bell Aliant segment provides local telephone, long distance, Internet, data, video, wireless, information technology services and products, and other information and communications technology services. The company was founded on February 25, 1970 and is headquartered in Verdun, Canada.
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