Zacks Research Comments on BCE’s FY2024 Earnings (NYSE:BCE)

BCE Inc. (NYSE:BCE) (TSE:BCE) – Investment analysts at Zacks Research reduced their FY2024 EPS estimates for shares of BCE in a note issued to investors on Wednesday, November 27th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings of $2.19 per share for the year, down from their previous estimate of $2.20. The consensus estimate for BCE’s current full-year earnings is $2.14 per share. Zacks Research also issued estimates for BCE’s Q4 2024 earnings at $0.54 EPS, Q1 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.52 EPS, FY2025 earnings at $2.12 EPS, Q1 2026 earnings at $0.53 EPS, Q2 2026 earnings at $0.54 EPS, Q3 2026 earnings at $0.56 EPS and FY2026 earnings at $2.16 EPS.

Several other equities analysts have also recently weighed in on BCE. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Barclays decreased their target price on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BCE currently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Performance

Shares of BCE stock opened at $27.33 on Monday. BCE has a 12 month low of $26.45 and a 12 month high of $41.77. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The stock has a market cap of $24.93 billion, a PE ratio of 390.36, a price-to-earnings-growth ratio of 4.21 and a beta of 0.54. The business has a fifty day simple moving average of $30.81 and a 200-day simple moving average of $32.80.

Institutional Investors Weigh In On BCE

Several institutional investors and hedge funds have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its position in BCE by 3,480.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock valued at $35,000 after buying an additional 1,044 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in BCE during the 3rd quarter worth approximately $51,000. Brown Lisle Cummings Inc. increased its holdings in BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 600 shares in the last quarter. Finally, Bruce G. Allen Investments LLC raised its position in BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 1,268 shares during the last quarter. Institutional investors and hedge funds own 41.46% of the company’s stock.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.737 per share. This is a positive change from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 10.79%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is currently 4,228.57%.

BCE Company Profile

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.