FY2024 Earnings Estimate for BCE Inc. (NYSE:BCE) Issued By National Bank Financial

BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) – Analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for BCE in a research report issued on Wednesday, June 12th. National Bank Financial analyst A. Shine now forecasts that the utilities provider will earn $2.22 per share for the year, down from their previous estimate of $2.25. The consensus estimate for BCE’s current full-year earnings is $2.20 per share. National Bank Financial also issued estimates for BCE’s FY2025 earnings at $2.19 EPS.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.47 billion. BCE had a return on equity of 16.86% and a net margin of 7.53%.

BCE has been the subject of a number of other research reports. CIBC raised BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, April 23rd. Barclays lowered their target price on BCE from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. BMO Capital Markets lifted their price target on BCE from $46.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Argus cut BCE from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.25.

Read Our Latest Stock Report on BCE

BCE Price Performance

BCE stock opened at $32.89 on Thursday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.57 and a current ratio of 0.61. BCE has a 1 year low of $31.82 and a 1 year high of $46.02. The firm has a market cap of $30.00 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 5.43 and a beta of 0.57. The stock has a 50-day simple moving average of $33.48 and a 200-day simple moving average of $36.55.

Hedge Funds Weigh In On BCE

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in shares of BCE by 400.8% in the third quarter. American Century Companies Inc. now owns 3,570,323 shares of the utilities provider’s stock worth $136,294,000 after purchasing an additional 2,857,340 shares during the period. Goldman Sachs Group Inc. increased its stake in BCE by 171.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,284,802 shares of the utilities provider’s stock valued at $168,736,000 after acquiring an additional 2,708,625 shares during the period. Norges Bank bought a new position in BCE during the fourth quarter valued at about $97,874,000. FIL Ltd increased its stake in BCE by 18.8% during the fourth quarter. FIL Ltd now owns 14,007,515 shares of the utilities provider’s stock valued at $551,505,000 after acquiring an additional 2,217,262 shares during the period. Finally, Clearbridge Investments LLC bought a new position in BCE during the fourth quarter valued at about $85,840,000. 41.46% of the stock is currently owned by institutional investors.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.738 per share. The ex-dividend date is Friday, June 14th. This represents a $2.95 annualized dividend and a yield of 8.98%. BCE’s dividend payout ratio (DPR) is currently 204.86%.

BCE Company Profile

(Get Free Report)

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.

See Also

Earnings History and Estimates for BCE (NYSE:BCE)

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