Desjardins Research Analysts Cut Earnings Estimates for BCE

BCE Inc. (NYSE:BCE - Free Report) TSE: BCE - Equities researchers at Desjardins decreased their FY2024 earnings per share (EPS) estimates for shares of BCE in a report released on Thursday, November 7th. Desjardins analyst J. Dubreuil now anticipates that the utilities provider will post earnings per share of $2.12 for the year, down from their previous estimate of $2.14. The consensus estimate for BCE's current full-year earnings is $2.19 per share. Desjardins also issued estimates for BCE's FY2025 earnings at $2.03 EPS.

Other research analysts have also recently issued reports about the company. BMO Capital Markets raised their price objective on BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, September 19th. Canaccord Genuity Group reiterated a "hold" rating on shares of BCE in a report on Tuesday, November 5th. National Bank Financial cut shares of BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. Edward Jones cut shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group cut BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.00.

BCE Price Performance

BCE stock traded down $0.36 during midday trading on Monday, reaching $28.01. 1,472,755 shares of the stock were exchanged, compared to its average volume of 2,283,233. BCE has a 52 week low of $27.29 and a 52 week high of $41.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65. The firm has a market cap of $25.55 billion, a PE ratio of 406.71, a PEG ratio of 4.37 and a beta of 0.59. The company's fifty day moving average is $33.60 and its 200-day moving average is $33.58.

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 issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 10.52%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from BCE's previous quarterly dividend of $0.73. BCE's dividend payout ratio (DPR) is presently 4,214.29%.

Institutional Trading of BCE

Institutional investors and hedge funds have recently modified their holdings of the company. ESL Trust Services LLC purchased a new stake in shares of BCE during the 1st quarter worth $31,000. Massmutual Trust Co. FSB ADV lifted its position in shares of BCE by 3,480.0% during 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 during 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 valued at $43,000 after buying an additional 675 shares in the last quarter. Brown Lisle Cummings Inc. grew its position in shares of BCE by 60.0% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider's stock worth $52,000 after buying an additional 600 shares during the last quarter. Finally, Bruce G. Allen Investments LLC raised its stake in shares of BCE by 321.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock worth $58,000 after acquiring an additional 1,268 shares in the last quarter. 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.