Yahoo Finance BCE (BCE) Advances While Market Declines: Some Information for Investors
The latest trading session saw BCE (BCE) ending at $32.59, denoting a +1.18% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.56%, and the technology-dominated Nasdaq saw a decrease of 2.05%.
Coming into today, shares of the Canada's largest telecommunications company had lost 5.74% in the past month. In that same time, the Utilities sector lost 7.29%, while the S&P 500 lost 2.57%.
Market participants will be closely following the financial results of BCE in its upcoming release. The company plans to announce its earnings on May 2, 2024. The company's upcoming EPS is projected at $0.53, signifying a 15.87% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.48 billion, down 0.04% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.25 per share and a revenue of $18.44 billion, demonstrating changes of -5.46% and +0.85%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for BCE. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.14% downward. As of now, BCE holds a Zacks Rank of #3 (Hold).
Digging into valuation, BCE currently has a Forward P/E ratio of 14.3. Its industry sports an average Forward P/E of 13.77, so one might conclude that BCE is trading at a premium comparatively.
It's also important to note that BCE currently trades at a PEG ratio of 4.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Diversified Communication Services industry currently had an average PEG ratio of 2.5 as of yesterday's close.
The Diversified Communication Services industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 176, positioning it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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BCE, Inc. (BCE) : Free Stock Analysis Report
