Desjardins Weighs in on BCE's FY2024 Earnings (NYSE:BCE)

BCE Inc. (NYSE:BCE - Free Report) TSE: BCE - Research analysts at Desjardins reduced their FY2024 EPS estimates for shares of BCE in a report issued on Tuesday, November 5th. Desjardins analyst J. Dubreuil now forecasts that the utilities provider will earn $2.14 per share for the year, down from their prior estimate of $2.17. The consensus estimate for BCE's current full-year earnings is $2.20 per share. Desjardins also issued estimates for BCE's FY2025 earnings at $2.10 EPS.

Other analysts also recently issued reports about the company. BMO Capital Markets increased their price target on BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a report on Thursday, September 19th. National Bank Financial lowered BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Cibc World Mkts raised BCE from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 2nd. Barclays dropped their price objective on shares of BCE from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 9th. Finally, Edward Jones lowered shares of BCE from a "buy" rating to a "hold" rating in a report on Tuesday. Nine 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 company. According to data from MarketBeat.com, BCE presently has an average rating of "Hold" and an average target price of $46.33.

BCE Trading Down 0.3 %

Shares of BCE stock traded down $0.10 during trading hours on Wednesday, hitting $28.74. The company's stock had a trading volume of 5,657,466 shares, compared to its average volume of 2,255,912. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $26.22 billion, a PE ratio of 18.08, a P/E/G ratio of 5.36 and a beta of 0.59. The business has a fifty day moving average of $33.87 and a 200 day moving average of $33.64. BCE has a 1-year low of $28.26 and a 1-year high of $41.77.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AE Wealth Management LLC lifted its stake in BCE by 2.6% in the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider's stock valued at $466,000 after buying an additional 367 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its stake in BCE by 3.9% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock valued at $413,000 after purchasing an additional 445 shares during the period. First Affirmative Financial Network boosted its stake in BCE by 6.1% during the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider's stock valued at $285,000 after purchasing an additional 472 shares during the period. Simplicity Wealth LLC grew its position in BCE by 4.7% in the 2nd quarter. Simplicity Wealth LLC now owns 11,331 shares of the utilities provider's stock worth $367,000 after purchasing an additional 509 shares during the last quarter. Finally, Brown Lisle Cummings Inc. increased its stake in shares of BCE by 60.0% in the second 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 during the period. 41.46% of the stock is currently owned by institutional investors.

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.