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BCE Subsidiary Bell Canada Acquires 3800 MHz Spectrum Licenses
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BCE Inc’s (BCE - Free Report) subsidiary Bell Canada recently announced that it secured additional spectrum licenses via acquisition from federal government's 3800 MHz auction. The new licenses will aid in expansion of 5G+ wireless service across Canada. Bell has acquired its 5G+ spectrum at a total cost of $2.78 billion, which is the lowest among national wireless carriers, noted the company.
Bell Canada acquired 939 spectrum licenses, which will provide it with 100 MHz of 3500 MHz and 3800 MHz cross-band spectrum. It has also paid $518 million for securing 1.77 billion MHz-Pop.
With these new licenses, Bell will gain access to 3.5 billion MHz-Pop of 5G+ spectrum (which combines both 3500 MHz and 3800 MHz spectrum bands).
Operating 5G+ network on 3800 MHz wireless spectrum, complemented with the current 3500 MHz spectrum, will enable Bell to deliver faster wireless speeds. These will allow users upload/download content and stream high-resolution videos faster. Bell's 5G+ spectrum will also permit more devices to connect to its wireless network and provide lower latency, thereby improving response time for communication and immersive experiences in real time, added the company.
BCE is one of Canada’s largest communications service providers and serves as the holding company for Bell Canada.
Bell Canada operates the company’s wireline (Bell Wireline) and wireless (Bell Wireless) businesses, Bell Media as well as the satellite TV operation. Bell Canada is the one of the largest local exchange carriers in Ontario and Quebec. The company provides wireless service, data communications, telephone, high-speed Internet, direct-to-home satellite television and voice over internet protocol services.
Bell Canada also offers integrated information and communications technology services to businesses and governments. It is also the virtual chief information officer to small and medium businesses.
BCE recently reported third-quarter 2023 adjusted earnings per share of C$0.81 (60 cents) compared with C$0.88 in the prior-year quarter. The Zacks Consensus Estimate was pegged at 60 cents.
Quarterly total operating revenues inched up 0.9% year over year to C$6,080 million ($4,532.5 million). The consensus estimate was pegged at $4,561.7 million. The year over year improvement was driven by a 1.7% rise in service revenues, which totaled C$5,281 million, whereas Product revenues declined 3.9% to C$799 million.
The uptick was due to solid residential Internet growth and higher revenues from Bell Communication and Technology Services segment.
For 2023, BCE expects revenue growth to be between 1% and 5%. Adjusted EBITDA is projected in the 2-5% band.
The Zacks Consensus Estimate for Adobe’s fiscal 2023 EPS has remained unchanged in the past 60 days at $15.93. ADBE’s long-term earnings growth rate is 13.5%.
Adobe’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 3.3%. Shares of ADBE have surged 78.9% in the past year.
The Zacks Consensus Estimate for Synopsys’ fiscal 2024 EPS has remained flat in the past 30 days at $12.52. SNPS’ long-term earnings growth rate is 16.7%. Shares of SNPS have gained 55.7% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 2.8% in the past 60 days to $8.00.
WTS’ earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11.8%. Shares of WTS have jumped 20.4% in the past year.
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BCE Subsidiary Bell Canada Acquires 3800 MHz Spectrum Licenses
BCE Inc’s (BCE - Free Report) subsidiary Bell Canada recently announced that it secured additional spectrum licenses via acquisition from federal government's 3800 MHz auction. The new licenses will aid in expansion of 5G+ wireless service across Canada. Bell has acquired its 5G+ spectrum at a total cost of $2.78 billion, which is the lowest among national wireless carriers, noted the company.
Bell Canada acquired 939 spectrum licenses, which will provide it with 100 MHz of 3500 MHz and 3800 MHz cross-band spectrum. It has also paid $518 million for securing 1.77 billion MHz-Pop.
With these new licenses, Bell will gain access to 3.5 billion MHz-Pop of 5G+ spectrum (which combines both 3500 MHz and 3800 MHz spectrum bands).
Operating 5G+ network on 3800 MHz wireless spectrum, complemented with the current 3500 MHz spectrum, will enable Bell to deliver faster wireless speeds. These will allow users upload/download content and stream high-resolution videos faster. Bell's 5G+ spectrum will also permit more devices to connect to its wireless network and provide lower latency, thereby improving response time for communication and immersive experiences in real time, added the company.
BCE, Inc. Price and Consensus
BCE, Inc. price-consensus-chart | BCE, Inc. Quote
BCE is one of Canada’s largest communications service providers and serves as the holding company for Bell Canada.
Bell Canada operates the company’s wireline (Bell Wireline) and wireless (Bell Wireless) businesses, Bell Media as well as the satellite TV operation. Bell Canada is the one of the largest local exchange carriers in Ontario and Quebec. The company provides wireless service, data communications, telephone, high-speed Internet, direct-to-home satellite television and voice over internet protocol services.
Bell Canada also offers integrated information and communications technology services to businesses and governments. It is also the virtual chief information officer to small and medium businesses.
BCE recently reported third-quarter 2023 adjusted earnings per share of C$0.81 (60 cents) compared with C$0.88 in the prior-year quarter. The Zacks Consensus Estimate was pegged at 60 cents.
Quarterly total operating revenues inched up 0.9% year over year to C$6,080 million ($4,532.5 million). The consensus estimate was pegged at $4,561.7 million. The year over year improvement was driven by a 1.7% rise in service revenues, which totaled C$5,281 million, whereas Product revenues declined 3.9% to C$799 million.
The uptick was due to solid residential Internet growth and higher revenues from Bell Communication and Technology Services segment.
For 2023, BCE expects revenue growth to be between 1% and 5%. Adjusted EBITDA is projected in the 2-5% band.
At present, BCE carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks worth consideration in the broader technology space are Adobe (ADBE - Free Report) , Synopsys (SNPS - Free Report) and Watts Water Technologies (WTS - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Adobe’s fiscal 2023 EPS has remained unchanged in the past 60 days at $15.93. ADBE’s long-term earnings growth rate is 13.5%.
Adobe’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 3.3%. Shares of ADBE have surged 78.9% in the past year.
The Zacks Consensus Estimate for Synopsys’ fiscal 2024 EPS has remained flat in the past 30 days at $12.52. SNPS’ long-term earnings growth rate is 16.7%. Shares of SNPS have gained 55.7% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 2.8% in the past 60 days to $8.00.
WTS’ earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11.8%. Shares of WTS have jumped 20.4% in the past year.