BCE (NYSE:BCE) Stock

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 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. BCE has a media segment that holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz.

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President Donald Trump's plan to <a href="https://www.benzinga.com/25/04/44616760/donald-trump-sets-reciprocal-tariffs-on-key-trade-partners-in-historic-policy-shock">impose reciprocal tariffs</a> on foreign imports sent markets lower on Thursday.
Canada was spared from additional tariffs during Wednesday's announcement, but has been a favorite Trump target. Canada's economy could be hurt by tariffs, which could be a problem for American sports leagues, specifically the National Hockey League.
What Happened: A Canadian NHL team has not won the <a href="https://www.benzinga.com/general/sports-betting/24/04/38356595/canadas-30-year-stanley-cup-drought-can-streak-end-in-2024-betting-odds-and-the-public-us-">Stanley Cup since 1993</a>. While that drought continues to be a key fact on the minds of the seven Canadian NHL teams, they may have bigger problems at hand.
NHL Commissioner Gary Bettman was <a href="https://globalnews.ca/video/11112948/nhl-has-concerns-over-trumps-tariffs-hopes-canada-us-tensions-just-a-moment-in-time/">asked </a>about Trump's latest tariffs and the potential impact on the NHL this week when highlighting a new Canadian media rights deal with Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>).
Bettman said he doesn't want to weigh in on politics and hopes that people use sports as an escape from negative headlines. Although, he acknowledged that the situation could still have meaningful implications.
"I hope what we're seeing is a moment in time and things can get back to a normal reality," Bettman said. "I have concerns from a business standpoint for the league that if the Canadian economy suffers by what's going on that will impact the way we do business."
Bettman&#8217;s latest comments follow a <a href="https://www.cnbc.com/2025/03/05/nhl-commissioner-gary-bettman-us-canada-tariffs.html" target="_blank" rel="noopener">CNBC </a>interview last week in which he said 25% of the NHL's league revenue comes from the seven Canadian teams. He also mentioned that the salaries are paid in US dollars.
"So if the impact of the tariffs is to see the Canadian dollar drop relative to the U.S. dollar, it will make it more difficult and more painful."
At the time, Bettman said Canadians and Americans were likely getting "caught in the middle" of a policy issue.
Read Also: <a href="https://www.benzinga.com/markets/25/04/44621408/market-access-has-a-price-trump-unveils-list-of-tariffs-countries-targeted">Trump Unveils Massive Tariff Plan to Slash $1.2 Trillion Trade Deficit: &#8216;Access To The American Market Is A Privilege&#8217;</a>
Why It's Important: The NHL's seven Canadian teams are the Calgary Flames, Ottawa Senators, Montreal Canadiens, Toronto Maple Leafs, Edmonton Oilers and Winnipeg Jets.
The Maple Leafs are partially owned by two public telecommunications companies. Rogers owns 37.5% of the team, and Bell Canada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) also owns 37.5% of the team. The ownership comes via the Maple Leaf Sports &amp; Entertainment parent company. MLSE also owns the National Basketball Association team, the Toronto Raptors, and other sports assets. Rogers owns the Major League Baseball team, the Toronto Blue Jays.
Hockey equipment and jerseys are also made in Canada and could be subject to tariffs, increasing costs for the league as it nears the end of its regular season.
In other American sports leagues, Canada is less involved. In the NBA it's one Canadian team (Raptors) and the same for MLB (Blue Jays). The NHL will be much more impacted by tariffs on Canada and the country's economy going forward.
As a trade war potentially escalates, fans can also get more partial against certain teams, as was evidenced with booing of national anthems when Canada and the United States played each other in the Four Nations Tournament earlier this year.
Price Action: Rogers Communications stock hit a new 52-week low of $24.76 earlier this week. The stock has traded between $24.76 and $41.84 over the last year, with shares down 15.2% year-to-date in 2025 and down 34.9% over the last year.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/25/04/44619828/gop-senators-call-trumps-25-canada-tariff-a-huge-mistake-as-republican-opposition-grows-markets-fear">GOP Senators Call Trump&#8217;s 25% Canada Tariff A &#8216;Huge Mistake&#8217; As Republican Opposition Grows, Markets Fear Economic Disruption</a></li>
</ul>
Photo: Debby Wong/Shutterstock

Sports

Global

Trump's Tariff Push Raises NHL Concerns: League Hopes For Return To 'Normal Reality'

-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bell Media maintains its existing minority ownership in Sphere Media - -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sphere Abacus becomes primary international distributor of Bell Media's owned distribution rights - -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition to enhance the reach of Canadian content and creators with international audiences -
TORONTO, March 26, 2025 /CNW/ - Bell Media announced today that it has bolstered its existing partnership with Montréal-based <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4391902-1&amp;h=2513022355&amp;u=https%3A%2F%2Fsphere-media.com%2Fen%2F&amp;a=Sphere+Media">Sphere Media</a>&nbsp;by acquiring a majority stake in leading global content distributor <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4391902-1&amp;h=1718937420&amp;u=https%3A%2F%2Fwww.sphere-abacus.com%2Fabout&amp;a=Sphere+Abacus">Sphere Abacus</a>, through parent company Sphere Media International. The acquisition serves as a launchpad for Bell Media's content distribution expansion, combining the strength of the two companies to accelerate growth and capitalize on new opportunities. Through Sphere Abacus, Bell Media is set to enhance the reach of Canadian content and creators with international audiences.

Bell Media Acquires Majority Stake Of Global Content Distributor Sphere Abacus; No Financial Terms Disclosed

RBC Capital analyst Drew McReynolds reiterates BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) with a Sector Perform and maintains $39 price target.

News

Price Target

Reiteration

Analyst Ratings

RBC Capital Reiterates Sector Perform on BCE, Maintains $39 Price Target

Reported Earlier, Bell Prices $1B And $1.25B Fixed-to-Fixed Rate Notes, Offering Interest Resets Every Five Years

BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) reported quarterly earnings of $0.79 per share which beat the analyst consensus estimate of $0.72 by 9.72 percent. This is a 41.58 percent increase over earnings of $0.56 per share from the same period last year. The company reported quarterly sales of $6.42 billion which beat the analyst consensus estimate of $6.35 billion by 1.17 percent. This is a 35.03 percent increase over sales of $4.76 billion the same period last year.

Earnings

Earnings Beats

BCE Q4 2024 Adj EPS $0.79 Beats $0.72 Estimate, Sales $6.42B Beat $6.35B Estimate

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Earnings Scheduled For February 6, 2025

Barclays analyst Terence Malone downgrades BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) from Equal-Weight to Underweight.

Downgrades

Barclays Downgrades BCE to Underweight

WIIM

BCE shares are trading lower after Morgan Stanley downgraded the stock from Equal Weight to Underweight and lowered its price target from $40 to $34.

<ul>
<li>Bell has become a Managed and Professional Services strategic partner to provide support across Palo Alto Networks industry-leading, AI-powered security platforms. &nbsp;</li>
<li>Partnership underscores Bell's objective to provide innovative and comprehensive security solutions to businesses in Canada and is another step toward becoming the largest and most trusted Managed Security Services Provider in Canada.</li>
</ul>
MONTRÉAL and SANTA CLARA, Calif., Dec. 12, 2024 /CNW/ - Bell Canada, Canada's largest communications company, and Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>), the global cybersecurity leader, announced today a strategic partnership that brings together Bell's expertise in Managed and Professional services with Palo Alto Networks industry-leading, AI-powered cybersecurity platforms. Building upon customer success and service development initiatives <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4322920-1&amp;h=1986171544&amp;u=https%3A%2F%2Fbce.ca%2Fnews-and-media%2Freleases%2Fshow%2FBell-partners-with-Palo-Alto-Networks-to-help-Canadian-businesses-identify-threats-and-protect-their-cloud-based-data%3Fpage%3D4%26month%3D%26year%3D%26perpage%3D25&amp;a=launched+in+2023">launched in 2023</a>, Bell will now offer a full suite of services across Palo Alto Networks three platforms, delivering comprehensive protection against evolving cyber threats for customers in Canada.

PANW

Bell and Palo Alto Networks Form Strategic Partnership To Strengthen Security Of Canadian Businesses

<ul>
<li>Innovative solution that integrates the mobile number directly into Microsoft Teams with advanced features is making mobile and hybrid work easier by streamlining transitions between home, office, and remote locations</li>
<li>Leveraging Canada's fastest and most reliable 5G network1 and one of Canada's largest SIP Trunking networks to empower the future of work in Canada</li>
<li>Bell's expanded portfolio of Microsoft Modern Workplace offerings is designed to help businesses meet the evolving needs of their employees and customers</li>
</ul>
MONTRÉAL, Nov. 19, 2024 /CNW/ - Bell today announced it is launching services for Microsoft Teams Phone Mobile, building on its collaboration with Microsoft to offer Canadian businesses a flexible, secure, high-performance communication solution. This innovative mobile-first solution integrates mobile numbers with Teams, enabling seamless calling and collaboration. Teams Phone Mobile provides a consistent user experience, simplifying business communication and boosting productivity and efficiency.

MSFT

Bell Expands Its Collaboration With Microsoft To Launch Services For Microsoft Teams Phone Mobile For Canadian Businesses

Barclays analyst David Joyce maintains BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) with a Equal-Weight and lowers the price target from $34 to $30.

Barclays Maintains Equal-Weight on BCE, Lowers Price Target to $30

BCE shares are trading lower after the company reported worse-than-expected Q3 financial results.

CORRECTION: BCE Q3 2024 Adj. EPS CAD0.75 Misses CAD0.77 Estimate, Sales CAD5.971B Miss CAD6.032B Estimate

Guidance

BCE Sees FY24 Adj. EPS Growth (7)%-(3)%; Revenue Growth 0%-4%

RBC Capital analyst Drew McReynolds maintains BCE (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BCE#TSX">BCE</a>) with a Sector Perform and lowers the price target from C$52 to C$47.

TSX:BCE

RBC Capital Maintains Sector Perform on BCE, Lowers Price Target to C$47

Edward Jones analyst David Heger downgrades BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) from Buy to Hold.

Edward Jones Downgrades BCE to Hold

BCE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) stock is moving lower on Monday after the company&#8217;s subsidiary, Bell Canada, entered into a definitive acquisition agreement to acquire Ziply Fiber. Also, BCE said it will pause <a href="https://www.benzinga.com//node/41709988">dividend growth</a>.
What To Know: Under the agreement, the company will acquire 100% equity in Ziply Fiber in exchange for about $3.65 billion. Bell is anticipated to use its net proceeds from its sale of ownership interest in Maple Leaf Sports &amp; Entertainment to fund the acquisition. 
The closing of the sale of ownership interest in Maple Leaf Sports may occur after the closing of this acquisition. In that case, the company will utilize a loan facility to finance this deal. In addition, Bell will utilize funds from a discounted treasury dividend reinvestment plan (DRP) program.
The goal of the merger is to expand Bell&#8217;s fiber network into the United States, adding around 1.3 million fiber locations. This acquisition will also strengthen Bell&#8217;s position as the third-largest fiber Internet provider in North America, bringing its total to 9 million fiber locations, with plans to reach over 12 million by the end of 2028.
Mirko Bibic, president &amp; CEO, BCE and&nbsp;Bell Canada, said &#8220;This acquisition marks a bold milestone in Bell&#8217;s history as we lean into our fibre expertise and expand our reach beyond our Canadian borders. Fibre is at the heart of what we do, and we&#8217;re proud to connect people and businesses and enable them to do more through our fibre networks. By bringing together Bell and Ziply Fiber&#8217;s exceptional talent, we&#8217;ll accelerate our growth while continuing to deliver significant value for our customers&nbsp;and shareholders.&#8221;
Bell said that it intends to maintain its annual common share dividend at the current level of $3.99 per share through the end of 2025.
The company said, &#8220;In the context of the strategic acquisition of Ziply Fiber, BCE&#8217;s focus is on long-term value creation for shareholders and BCE intends to pause dividend growth until BCE&#8217;s dividend payout and net debt leverage ratios are tracking towards our target policy ranges, subject to review annually by the BCE Board of Directors.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/11/41702528/chipotles-hiring-musks-predictions-and-nvidias-human-like-ai-this-week-in-artificial-intelligence">Chipotle&#8217;s Hiring, Musk&#8217;s Predictions, And Nvidia&#8217;s Human-Like AI: This Week In Artificial Intelligence</a>
BCE Price Action: At the time of writing, BCE stock is trading 9.16% lower at $29.16, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: 962355 from Pixabay.

Movers

What's Going On With BCE Shares Monday?

BCE shares are trading lower after the company announced the acquisition of Ziply Fiber and said it will pause dividend growth.

BCE Inc. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BCE#TSX">BCE</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>), Canada's largest communications company1, announced today that its wholly-owned subsidiary, Bell Canada (Bell), has entered into a definitive agreement to acquire&nbsp;Ziply Fiber, the leading fibre Internet provider in the Pacific Northwest of the United States, (the "Acquisition") for approximately C$5.0 billion in cash and the assumption of outstanding net debt of approximately C$2.0 billion to be rolled over at transaction close, representing a transaction value of approximately C$7.0 billion.
This transaction enhances Bell's growth profile and strategic position by giving it a foothold in the large, underpenetrated U.S. fibre market, while increasing its scale, diversifying its operating footprint and unlocking significant growth opportunities.
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<td colspan="1" rowspan="1">1 Based on total revenue and total combined customer connections.</td>
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"This acquisition marks a bold milestone in Bell's history as we lean into our fibre expertise and expand our reach beyond our Canadian borders. Fibre is at the heart of what we do, and we're proud to connect people and businesses and enable them to do more through our fibre networks. By bringing together Bell and Ziply Fiber's exceptional talent, we'll accelerate our growth while continuing to deliver significant value for our customers&nbsp;and shareholders."
- Mirko Bibic, President &amp; CEO, BCE and Bell Canada
Ziply Fiber's focus on network technology and innovation has resulted in steady expansion of its footprint since 2020, with over 1.3 million fibre locations across four U.S. states and plans to reach more than three million locations in the next four years. Upon closing of this acquisition, Bell will be poised to expand its fibre footprint to over 12 million locations across North America by the end of 2028, reinforcing its position as the third-largest fibre Internet provider in North America.
The combination of Bell and Ziply Fiber will offer enhanced value for existing and new customers in both Canada and the United States as demand for faster, more reliable Internet and data services increases. Together, the two companies will bring a depth of management, product leadership and technological expertise, aligned on culture, vision and long-term strategy.
"Bell's leadership and vision aligns perfectly with our commitment to improve the connected experiences of our communities through fast, reliable fiber Internet and a refreshingly great experience. This acquisition enhances our growth strategy&nbsp;with the scale and experience of one of North America's leading fiber operators. I'm also grateful for the support of our original partners at both Searchlight Capital and WaveDivision Capital."
- Harold&nbsp;Zeitz, CEO, Ziply Fiber
This transaction values Ziply Fiber on an enterprise value basis, net of the present value of acquired tax attributes, at approximately 14.3 x 2025 estimated adjusted EBITDA, including run-rate synergies. The Acquisition is expected to close in the second half of 2025, subject to certain customary closing conditions and the receipt of certain regulatory approvals. Once the transaction has closed, Ziply Fiber will operate as a separate business unit and will continue to be headquartered in Kirkland, Washington.

BCE Inc. to Enter US Fiber Market Through $7B Ziply Fiber Acquisition

Barclays analyst Kannan Venkateshwar maintains BCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) with a Equal-Weight and lowers the price target from $35 to $34.

Barclays Maintains Equal-Weight on BCE, Lowers Price Target to $34

Entertainment

Press Releases

General

Bell Let's Talk's 15th annual day for mental health on January 22 to prioritize youth mental health crisis

BCE reports results of Series AE and AF Preferred Share conversions

Bell Let's Talk thanks everyone for participating in Canada's 15th annual national day for mental health conversation and action

BCE reports 2024 Q4 and full-year results, announces 2025 financial targets

Bell Announces Offering of US$2.25 billion aggregate principal amount of Hybrid Notes

BCE files 2024 annual report on Form 40-F

Bell Media Leads the Way in Sports Advertising with New Live Connected TV Offering

Bell Media Acquires Majority Stake of Global Content Distributor Sphere Abacus

BCE Q1 2025 results to be announced May 8

Bell Media's Development Slate is Strengthened by New Drama Series PREJUDICE, Starring Emily VanCamp

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