Skip to Content
Morningstar

BCE Inc BCE

Morningstar Rating
Unlock
Stock XTSE Rating as of
CAD 47.03 +0.39 (0.84%)
View Full Chart
As of Delayed Price Closed
Unlock our analysis with Morningstar Investor
Start Free Trial

Company Report

View Archive

BCE Earnings: Disappointing Sales as Areas of Strength Are Offset in Unsurprisingly Weak Results

Matthew Dolgin

Given the downbeat 2024 outlook BCE provided earlier this year, first-quarter sales and EBITDA stagnation were unsurprising. Postpaid mobile phone and residential fixed-line internet subscriber additions remained strong, but the firm discussed an intensely competitive environment, and BCE seems to be materially underperforming rival Rogers. Margins should improve as the year goes on as some of the firm’s cost and workforce reductions take effect. BCE maintained its 2024 outlook, and we’re not changing our CAD 60 fair value estimate.

Read Full Report

Price vs Fair Value

View History
BCE is trading at a 74% premium.
Price
CAD 47.03
Fair Value
CAD 96.00
Uncertainty
Low
1-Star Price
CAD 17.00
5-Star Price
CAD 35.00
Economic Moat
Vxmdns
Capital Allocation
Wbtlgmclc

Bulls Say, Bears Say

Bulls

The immense network improvement resulting from BCE's fiber-to-the-home buildout will lead to further wireline share gains and margin improvement.

Bears

A combined Quebecor and Freedom Mobile should make for a strong fourth national wireless competitor, and it will likely undercut the Big Three on price, limiting pricing power and pressuring margins.

Show More
Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if BCE is a good fit for your portfolio.
Get 7 Days Free

News

View All

Trading Information

Previous Close Price
CAD 46.64
Day Range
CAD 46.87–47.20
52-Week Range
CAD 43.96–63.97
Bid/Ask
CAD 47.15 / CAD 47.15
Market Cap
CAD 42.90 Bil
Volume/Avg
2.7 Mil / 3.2 Mil

Key Statistics

Price/Earnings (Normalized)
15.27
Price/Sales
1.74
Dividend Yield (Trailing)
8.36%
Dividend Yield (Forward)
8.55%
Total Yield
8.36%

Company Profile

BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with over 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrier—the legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provinces: Ontario and Quebec. Additionally, BCE has a media segment, which holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz.
Sector
Communication Services
Industry
Telecom Services
Stock Style Box
Large Value
Total Number of Employees
45,132
Website
https://www.bce.ca

Competitors

Valuation

View More
Metric
BCE
RCI
QBR.B
Price/Earnings (Normalized)
 15.2711.8810.95
Price/Book Value
 2.612.703.87
Price/Sales
 1.741.401.31
Price/Cash Flow
 5.544.634.50
Price/Earnings
BCE
RCI
QBR.B

Financial Strength

Metric
BCE
RCI
QBR.B
Quick Ratio
 0.520.710.41
Current Ratio
 0.650.890.66
Interest Coverage
 3.051.593.17
Quick Ratio
BCE
RCI
QBR.B

Profitability

Metric
BCE
RCI
QBR.B
Return on Assets (Normalized)
 3.96%3.56%6.00%
Return on Equity (Normalized)
 16.39%22.19%44.57%
Return on Invested Capital (Normalized)
 6.68%6.65%10.85%
Return on Assets
BCE
RCI
QBR.B
See how this stock stacks up to its competitors with Morningstar Investor
Start Free Trial

Telecom Services Industry Comparables

Screen in Investor
Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
TMUS
T-Mobile US IncScwsxsflgpDqppgh$190.3 Bil
VZ
Verizon Communications IncJlvbzfckGpjhyjr$170.4 Bil
CMCSA
Comcast Corp Class AZzplszmbwYhfn$154.0 Bil
T
AT&T IncRtfzFmpyvf$124.3 Bil
DTEGY
Deutsche Telekom AG ADRMtktwbncwPldrbc$118.3 Bil
AMX
America Movil SAB de CV ADR - Series BGpqwjzbwllPjnhvkh$61.2 Bil
KDDIY
KDDI Corp ADRNjgnwjfcLflnft$58.7 Bil
CHTR
Charter Communications Inc Class AVtjdvzdLwjnjr$39.1 Bil
BCE
BCE IncPlsdtxqlkKvkjjw$31.1 Bil
ORAN
Orange SA ADRDphtnhylSrsd$30.6 Bil

Sponsor Center