Research Analysts Set Expectations for BCE Q3 Earnings

BCE Inc. (NYSE:BCE) (TSE:BCE) – Research analysts at Desjardins lowered their Q3 2024 earnings estimates for shares of BCE in a report released on Tuesday, November 5th. Desjardins analyst J. Dubreuil now anticipates that the utilities provider will post earnings of $0.55 per share for the quarter, down from their prior estimate of $0.58. The consensus estimate for BCE’s current full-year earnings is $2.20 per share. Desjardins also issued estimates for BCE’s Q4 2024 earnings at $0.50 EPS.

A number of other equities analysts have also recently issued reports on BCE. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday. Cibc World Mkts upgraded shares of BCE from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. BMO Capital Markets raised their target price on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.33.

BCE Stock Down 2.3 %

Shares of BCE stock opened at $28.09 on Thursday. BCE has a 12-month low of $27.29 and a 12-month high of $41.77. The company has a market cap of $25.63 billion, a P/E ratio of 17.65, a PEG ratio of 4.87 and a beta of 0.59. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 2.00. The company’s fifty day simple moving average is $33.87 and its two-hundred day simple moving average is $33.64.

Institutional Trading of BCE

Several institutional investors and hedge funds have recently made changes to their positions in BCE. BNP Paribas Financial Markets raised its holdings in shares of BCE by 20.0% in the first quarter. BNP Paribas Financial Markets now owns 20,698 shares of the utilities provider’s stock valued at $703,000 after acquiring an additional 3,450 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of BCE during the first quarter worth about $6,799,000. Quantbot Technologies LP grew its stake in shares of BCE by 41.6% during the first quarter. Quantbot Technologies LP now owns 186,948 shares of the utilities provider’s stock worth $6,352,000 after acquiring an additional 54,902 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of BCE during the first quarter worth about $419,000. Finally, Oppenheimer & Co. Inc. grew its stake in shares of BCE by 4.5% during the first quarter. Oppenheimer & Co. Inc. now owns 40,564 shares of the utilities provider’s stock worth $1,378,000 after acquiring an additional 1,733 shares during the last quarter. 41.46% of the stock is currently 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.