Scotiabank Has Negative Forecast for BCE FY2024 Earnings

BCE Inc. (TSE:BCE - Free Report) NYSE: BCE - Stock analysts at Scotiabank cut their FY2024 earnings per share (EPS) estimates for shares of BCE in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst M. Yaghi now forecasts that the company will post earnings per share of $3.06 for the year, down from their prior estimate of $3.07. The consensus estimate for BCE's current full-year earnings is $3.11 per share.

Other research analysts have also issued research reports about the stock. National Bank Financial lowered shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Barclays cut their price objective on BCE from C$46.00 to C$41.00 in a report on Monday, November 11th. Canaccord Genuity Group lowered their target price on BCE from C$37.50 to C$33.00 and set a "hold" rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada cut their price target on BCE from C$45.00 to C$41.00 and set a "sector perform" rating for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reduced their price target on BCE from C$41.00 to C$35.00 and set a "neutral" rating for the company in a report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, BCE currently has an average rating of "Hold" and an average price target of C$41.88.

BCE Stock Down 1.8 %

Shares of TSE BCE traded down C$0.59 during mid-day trading on Friday, reaching C$33.10. The company had a trading volume of 3,288,297 shares, compared to its average volume of 2,813,299. The company has a debt-to-equity ratio of 197.43, a quick ratio of 0.43 and a current ratio of 0.65. The company has a market capitalization of C$30.20 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 4.67 and a beta of 0.48. The stock has a fifty day moving average of C$36.24 and a two-hundred day moving average of C$42.66. BCE has a 12-month low of C$31.99 and a 12-month high of C$56.18.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be given a $0.9975 dividend. This represents a $3.99 annualized dividend and a yield of 12.05%. The ex-dividend date is Monday, December 16th. BCE's dividend payout ratio is currently 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.