FY2024 EPS Estimates for BCE Cut by National Bank Financial

BCE Inc. (NYSE:BCE) (TSE:BCE) – Analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of BCE in a research report issued to clients and investors on Thursday, November 7th. National Bank Financial analyst A. Shine now anticipates that the utilities provider will earn $2.08 per share for the year, down from their previous forecast of $2.21. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for BCE’s current full-year earnings is $2.18 per share. National Bank Financial also issued estimates for BCE’s FY2025 earnings at $1.89 EPS.

A number of other research analysts have also issued reports on the company. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays decreased their price objective on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday. BMO Capital Markets boosted 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. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.00.

BCE Stock Performance

Shares of BCE stock opened at $27.84 on Monday. The company has a market capitalization of $25.40 billion, a P/E ratio of 399.71, a P/E/G ratio of 4.26 and a beta of 0.59. BCE has a 12-month low of $27.29 and a 12-month high of $41.77. The business’s 50 day moving average is $33.60 and its two-hundred day moving average is $33.58. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 2.00.

BCE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.737 dividend. The ex-dividend date 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 10.59%. BCE’s dividend payout ratio is 4,228.57%.

Institutional Trading of BCE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new stake in shares of BCE in the 3rd quarter valued at approximately $262,000. Ontario Teachers Pension Plan Board lifted its holdings in BCE by 60.1% in the third quarter. Ontario Teachers Pension Plan Board now owns 67,224 shares of the utilities provider’s stock valued at $2,337,000 after acquiring an additional 25,228 shares during the last quarter. Advisors Asset Management Inc. grew its position in BCE by 10.7% in the third quarter. Advisors Asset Management Inc. now owns 26,545 shares of the utilities provider’s stock worth $924,000 after acquiring an additional 2,572 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in BCE by 48.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock worth $123,877,000 after acquiring an additional 1,166,800 shares during the last quarter. Finally, Prospera Private Wealth LLC raised its position in BCE by 7.3% in the third quarter. Prospera Private Wealth LLC now owns 26,278 shares of the utilities provider’s stock valued at $914,000 after purchasing an additional 1,794 shares during the period. 41.46% of the stock is owned by institutional investors and hedge funds.

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.