BCE Inc. (NYSE:BCE – Free Report) (TSE:BCE) – Desjardins reduced their Q4 2023 EPS estimates for BCE in a research report issued to clients and investors on Friday, November 3rd. Desjardins analyst J. Dubreuil now anticipates that the utilities provider will earn $0.48 per share for the quarter, down from their previous estimate of $0.53. The consensus estimate for BCE’s current full-year earnings is $2.47 per share.
BCE (NYSE:BCE – Get Free Report) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). BCE had a net margin of 9.68% and a return on equity of 16.24%. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.55 billion.
BCE Stock Performance
Shares of BCE opened at $39.88 on Monday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.50 and a current ratio of 0.55. The company has a market capitalization of $36.38 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 4.76 and a beta of 0.62. The company’s 50 day simple moving average is $39.08 and its 200 day simple moving average is $42.90. BCE has a 1 year low of $36.15 and a 1 year high of $48.38.
BCE Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.6969 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.79 annualized dividend and a yield of 6.99%. BCE’s payout ratio is 151.32%.
Hedge Funds Weigh In On BCE
Several large investors have recently bought and sold shares of BCE. ST Germain D J Co. Inc. acquired a new position in shares of BCE in the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its stake in shares of BCE by 88.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 579 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 271 shares during the last quarter. CGC Financial Services LLC acquired a new position in shares of BCE in the 2nd quarter worth approximately $27,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of BCE in the 3rd quarter worth approximately $30,000. Finally, Tucker Asset Management LLC acquired a new position in shares of BCE in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 42.30% of the company’s stock.
BCE Company Profile
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 three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communication products and services, as well as consumer electronics products.
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