TSX:BCETelecom
BCE (TSX:BCE) Stock Looks Cheap But Earnings Pressure Persists
BCE stock comes into this earnings print treading water, with the share price roughly flat over the past month after a modest rebound in the past week. The quick read on today is simple: the market is staring at a low P/E of about 4.7x and a headline net margin near 25% that are flattered by a very large one off gain of about CA$4.2b.
The real story for long term holders is different. Analysts expect earnings to decline over the next few years while revenue grows slowly. That tension between...