Analysts Set Expectations for BCE Inc.'s Q3 2024 Earnings (NYSE:BCE)

BCE Inc. (NYSE:BCE - Free Report) TSE: BCE - Investment analysts at National Bank Financial issued their Q3 2024 earnings per share estimates for BCE in a research report issued to clients and investors on Monday, September 30th. National Bank Financial analyst A. Shine forecasts that the utilities provider will post earnings of $0.56 per share for the quarter. National Bank Financial currently has a "Hold" rating on the stock. The consensus estimate for BCE's current full-year earnings is $2.20 per share. National Bank Financial also issued estimates for BCE's FY2025 earnings at $2.23 EPS.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analysts' expectations of $4.46 billion. BCE had a return on equity of 17.10% and a net margin of 8.39%. During the same period in the previous year, the business posted $0.59 EPS.

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets increased their target price on BCE from $48.00 to $51.00 and gave the stock a "market perform" rating in a research report on Thursday, September 19th. Cibc World Mkts raised BCE from a "hold" rating to a "strong-buy" rating in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, BCE presently has a consensus rating of "Hold" and an average target price of $46.67.

BCE Stock Performance

BCE traded down $0.60 on Thursday, hitting $33.84. The company's stock had a trading volume of 2,339,481 shares, compared to its average volume of 2,232,581. BCE has a 12 month low of $31.13 and a 12 month high of $41.77. The firm has a market cap of $30.87 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 5.86 and a beta of 0.58. 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's 50 day simple moving average is $34.79 and its 200-day simple moving average is $33.76.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a $0.729 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 8.62%. The ex-dividend date is Monday, September 16th. BCE's payout ratio is currently 204.86%.

Institutional Trading of BCE

Several hedge funds and other institutional investors have recently bought and sold shares of BCE. AE Wealth Management LLC boosted its position in BCE by 2.6% during 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 period. DGS Capital Management LLC grew its position in BCE by 4.9% during the 1st quarter. DGS Capital Management LLC now owns 10,690 shares of the utilities provider's stock worth $363,000 after acquiring an additional 498 shares during the last quarter. Simplicity Wealth LLC increased its stake 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 period. First Affirmative Financial Network increased its stake in BCE by 9.2% in the 1st quarter. First Affirmative Financial Network now owns 6,728 shares of the utilities provider's stock worth $229,000 after purchasing an additional 569 shares during the period. Finally, Brown Lisle Cummings Inc. lifted its position in 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 last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.

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.