07:45:44 EDT Fri 29 Mar 2024
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or Name
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CA



BCE Inc (2)
Symbol BCE
Shares Issued 865,409,437
Close 2016-01-20 C$ 53.55
Market Cap C$ 46,342,675,351
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Globe says low-volatility BCE seen as a reliable option

2016-01-20 08:14 ET - In the News

The Globe and Mail reports in its Wednesday edition that BCE might be a bargain amid the rubble of the market collapse. The Globe's John Heinzl writes Norman Levine and Darren Sissons, managing directors of Portfolio Management Corp., say they have a cash position in the high teens, and they are looking to move some of that capital into non-resource stocks to take advantage of the stock market's recent belly-flop. BCE at $54.48 yields 4.8 per cent. Led by growth in its wireless operations, BCE's earnings are expected to rise by about 5 per cent to 6 per cent annually, which should lead to similar growth in its dividend, Mr. Levine said. He considers the telco -- which also has Internet, home phone, TV and media operations -- a "low-volatility" pick and says the current multiple of about 15.2 times estimates 2016 earnings is "reasonable." If the pattern of recent years continues, the company will raise its dividend when it announces fourth-quarter results on Feb. 4. Portfolio Management is looking for commodities to stabilize before returning its focus to resource stocks. Within that group, Mr. Levine and Mr. Sissons are hanging on to only two names -- Suncor Energy and ARC Resources.

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