What is Scotiabank's Estimate for BCE FY2024 Earnings?

BCE Inc. (NYSE:BCE - Free Report) TSE: BCE - Equities researchers at Scotiabank decreased their FY2024 earnings per share estimates for shares of BCE in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst M. Yaghi now anticipates that the utilities provider will post earnings per share of $2.13 for the year, down from their previous estimate of $2.27. The consensus estimate for BCE's current full-year earnings is $2.14 per share. Scotiabank also issued estimates for BCE's FY2025 earnings at $2.00 EPS.

Several other research firms also recently issued reports on BCE. National Bank Financial downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Barclays cut their price target on BCE from $34.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. Canaccord Genuity Group restated a "hold" rating on shares of BCE in a research note on Tuesday, November 5th. Morgan Stanley began coverage on BCE in a report on Monday, December 16th. They set an "underweight" rating on the stock. Finally, BMO Capital Markets increased their target price on BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, nine have issued 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, the stock currently has a consensus rating of "Hold" and an average target price of $45.00.

BCE Stock Down 2.9 %

NYSE BCE traded down $0.68 during trading hours on Friday, hitting $22.95. The company had a trading volume of 3,534,811 shares, compared to its average volume of 3,394,368. The firm's 50 day moving average is $25.79 and its 200 day moving average is $31.04. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 327.86, a P/E/G ratio of 4.04 and a beta of 0.56. BCE has a fifty-two week low of $22.18 and a fifty-two week high of $41.77. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

Institutional Investors Weigh In On BCE

A number of institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC boosted its stake in BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 675 shares during the period. Brown Brothers Harriman & Co. acquired a new position in BCE during the 3rd quarter valued at approximately $51,000. Bruce G. Allen Investments LLC grew its stake in 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 buying an additional 1,268 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in BCE in the third quarter worth $65,000. Finally, Fairscale Capital LLC bought a new stake in BCE in the second quarter valued at $76,000. Institutional investors own 41.46% of the company's stock.

BCE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 12.85%. The ex-dividend date is Monday, December 16th. This is an increase from BCE's previous quarterly dividend of $0.73. BCE's payout ratio is currently 4,214.29%.

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.