Morningstar Rating

Stock Research and Analysis

by Michael Hodel, CFA

Bulls Say

Roughly 75% of Bell's postpaid base is now on smartphones.
For the second time in 12 years, Bell has acquired full control of CTV, the country's largest private TV broadcaster. This time, the firm has three screens (TV, cell phone, and computer) to use as viable content conduits. The recent acquisition of Astral strengthens its competitive position even further.
After two years of being unable to increase its average revenue per user, Bell has increased its blended ARPU for 16 consecutive quarters. Read more 

Bears Say

The CRTC ruled that content owners like Bell will be forced to share their content with other carriers at reasonable prices. Bell had hoped it would have the opportunity to offer exclusive rights to its CTV content.
Given the extra debt that came from the Astral deal, we doubt Bell will buy back any shares in 2014.
Fixed-line loss stabilization has been a recent focus of management, but while the speed of the decline has eased, the bleeding hasn't stopped. Read more 

Management

George Cope is president and CEO of Bell Canada after leading the company's customer-facing units, including residential (wireline, Internet, and video), enterprise, small and medium-size business, and wholesale. Before coming to BCE, Cope led Telus   Read more 

Profile

BCE is the largest communications company in Canada. It has more than 5 million fixed-line phone customers, 7.5 million wireless customers, 2 million high-speed Internet   Read more 

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