Desjardins Weighs in on BCE’s FY2024 Earnings (NYSE:BCE)

BCE Inc. (NYSE:BCE) (TSE:BCE) – Equities research analysts at Desjardins decreased their FY2024 earnings per share (EPS) estimates for BCE in a research report issued to clients and investors on Thursday, November 7th. Desjardins analyst J. Dubreuil now forecasts that the utilities provider will earn $2.12 per share for the year, down from their prior forecast of $2.14. The consensus estimate for BCE’s current full-year earnings is $2.19 per share. Desjardins also issued estimates for BCE’s FY2025 earnings at $2.03 EPS.

Several other research analysts have also weighed in on BCE. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays lowered their price objective on BCE from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group reiterated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Finally, National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BCE currently has an average rating of “Hold” and a consensus price target of $46.33.

BCE Price Performance

BCE stock opened at $28.37 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.65 and a quick ratio of 0.62. The business has a 50 day simple moving average of $33.60 and a 200-day simple moving average of $33.57. The firm has a market capitalization of $25.88 billion, a PE ratio of 405.29, a price-to-earnings-growth ratio of 4.37 and a beta of 0.59. BCE has a 1 year low of $27.29 and a 1 year high of $41.77.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in BCE during the third quarter worth $262,000. Ontario Teachers Pension Plan Board lifted its stake in BCE by 60.1% during the third quarter. Ontario Teachers Pension Plan Board now owns 67,224 shares of the utilities provider’s stock worth $2,337,000 after purchasing an additional 25,228 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in BCE by 10.7% during the third quarter. Advisors Asset Management Inc. now owns 26,545 shares of the utilities provider’s stock worth $924,000 after purchasing an additional 2,572 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in BCE by 48.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock worth $123,877,000 after purchasing an additional 1,166,800 shares in the last quarter. Finally, Prospera Private Wealth LLC raised its stake in shares of BCE by 7.3% in the third quarter. Prospera Private Wealth LLC now owns 26,278 shares of the utilities provider’s stock valued at $914,000 after acquiring an additional 1,794 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors and hedge funds.

BCE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 10.39%. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is 4,214.29%.

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 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.