Research Analysts Set Expectations for BCE FY2024 Earnings

BCE Inc. (TSE:BCE - Free Report) NYSE: BCE - National Bank Financial upped their FY2024 EPS estimates for shares of BCE in a research note issued to investors on Wednesday, December 18th. National Bank Financial analyst A. Shine now expects that the company will post earnings per share of $2.98 for the year, up from their previous estimate of $2.89. National Bank Financial currently has a "Hold" rating on the stock. The consensus estimate for BCE's current full-year earnings is $3.11 per share.

BCE has been the subject of several other reports. Barclays cut their target price on BCE from C$46.00 to C$41.00 in a report on Monday, November 11th. Scotiabank decreased their target price on BCE from C$45.00 to C$42.00 in a research report on Tuesday, November 26th. Royal Bank of Canada lowered their price objective on shares of BCE from C$45.00 to C$41.00 and set a "sector perform" rating on the stock in a report on Wednesday. TD Securities decreased their price target on BCE from C$39.00 to C$37.00 and set a "hold" rating for the company in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of BCE from C$47.00 to C$41.00 in a research note on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of C$43.38.

BCE Price Performance

BCE stock traded down C$0.01 during midday trading on Friday, reaching C$33.28. The company's stock had a trading volume of 8,807,620 shares, compared to its average volume of 3,321,709. The business has a 50-day moving average price of C$39.90 and a 200-day moving average price of C$44.03. The stock has a market cap of C$30.36 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. BCE has a 52 week low of C$32.95 and a 52 week high of C$56.18. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 197.43.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.9975 per share. This represents a $3.99 dividend on an annualized basis and a dividend yield of 11.99%. The ex-dividend date is Monday, December 16th. BCE's payout ratio is 185.58%.

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.