Scotiabank Research Analysts Cut Earnings Estimates for BCE

BCE Inc. (NYSE:BCE) (TSE:BCE) – Scotiabank cut their FY2024 earnings estimates for BCE in a research report issued on Wednesday, January 8th. Scotiabank analyst M. Yaghi now forecasts that the utilities provider will post earnings of $2.13 per share for the year, down from their prior forecast of $2.27. The consensus estimate for BCE’s current full-year earnings is $2.14 per share. Scotiabank also issued estimates for BCE’s FY2025 earnings at $2.00 EPS.

Several other research firms also recently commented on BCE. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays lowered their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Morgan Stanley initiated coverage on BCE in a research report on Monday, December 16th. They set an “underweight” rating for the company. Finally, BMO Capital Markets lifted their price target on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Down 0.9 %

BCE stock opened at $23.64 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. BCE has a 1-year low of $22.18 and a 1-year high of $41.77. The firm’s fifty day simple moving average is $25.79 and its 200-day simple moving average is $31.04. The company has a market capitalization of $21.57 billion, a P/E ratio of 337.71, a P/E/G ratio of 4.04 and a beta of 0.56.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.737 per share. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.47%. BCE’s payout ratio is 4,214.29%.

Institutional Trading of BCE

A number of hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC increased its position in shares of BCE by 121.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 675 shares during the period. Brown Brothers Harriman & Co. acquired a new position in BCE in the third quarter worth about $51,000. Bruce G. Allen Investments LLC lifted its stake in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 1,268 shares during the period. Legacy Investment Solutions LLC acquired a new stake in BCE during the third quarter valued at approximately $65,000. Finally, Fairscale Capital LLC bought a new stake in shares of BCE in the 2nd quarter valued at approximately $76,000. 41.46% of the stock is owned by institutional investors.

About BCE

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.