Cormark Analysts Increase Earnings Estimates for BCE Inc. (TSE:BCE)

BCE Inc. (TSE:BCEGet Rating) (NYSE:BCE) – Equities researchers at Cormark lifted their FY2022 EPS estimates for BCE in a research report issued to clients and investors on Friday, May 6th. Cormark analyst D. Mcfadgen now expects that the company will earn $3.44 per share for the year, up from their previous estimate of $3.40. Cormark has a “Sector Perform” rating and a $72.00 price target on the stock. Cormark also issued estimates for BCE’s FY2023 earnings at $3.59 EPS.

BCE (TSE:BCEGet Rating) (NYSE:BCE) last issued its quarterly earnings results on Thursday, February 3rd. The company reported C$0.76 earnings per share for the quarter, topping the consensus estimate of C$0.72 by C$0.04. The business had revenue of C$6.21 billion for the quarter, compared to analysts’ expectations of C$6.23 billion.

BCE has been the topic of a number of other research reports. CIBC upped their price target on shares of BCE from C$65.00 to C$67.00 and gave the company a “neutral” rating in a research note on Friday, February 4th. UBS Group upped their price target on shares of BCE from C$63.00 to C$69.00 and gave the company a “na” rating in a research report on Friday. BMO Capital Markets upped their target price on shares of BCE from C$69.00 to C$70.00 in a report on Friday, February 4th. National Bankshares raised their price target on shares of BCE from C$70.00 to C$71.00 and gave the stock an “outperform” rating in a research report on Friday, February 4th. Finally, JPMorgan Chase & Co. lifted their target price on BCE from C$68.00 to C$70.00 in a report on Friday. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, BCE presently has an average rating of “Hold” and an average price target of C$69.23.

BCE stock opened at C$69.50 on Monday. The company has a market cap of C$63.25 billion and a PE ratio of 23.25. BCE has a twelve month low of C$58.62 and a twelve month high of C$74.09. The company’s 50-day moving average price is C$70.06 and its 200-day moving average price is C$67.08. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 129.35.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $3.68 dividend on an annualized basis and a yield of 5.29%. BCE’s payout ratio is currently 117.10%.

BCE Company Profile (Get Rating)

BCE Inc operates as a telecommunications and media company in Canada. The company offers wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers. It operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment provides wireless voice and data communication products and services, and consumer electronics products.

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Earnings History and Estimates for BCE (TSE:BCE)

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