National Bank Financial Increases Earnings Estimates for BCE

BCE Inc. (NYSE:BCE) (TSE:BCE) – Equities researchers at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of BCE in a research report issued to clients and investors on Wednesday, December 18th. National Bank Financial analyst A. Shine now forecasts that the utilities provider will post earnings per share of $2.12 for the year, up from their prior forecast of $2.08. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for BCE’s current full-year earnings is $2.14 per share. National Bank Financial also issued estimates for BCE’s Q4 2024 earnings at $0.52 EPS and FY2025 earnings at $1.91 EPS.

Other analysts also recently issued reports about the stock. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays decreased their price objective on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a report on Tuesday, November 5th. Morgan Stanley assumed coverage on BCE in a research report on Monday, December 16th. They set an “underweight” rating for the company. Finally, BMO Capital Markets lifted their price target on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, BCE presently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Trading Up 0.3 %

NYSE:BCE opened at $22.90 on Monday. The company has a market capitalization of $20.89 billion, a P/E ratio of 327.14, a P/E/G ratio of 4.04 and a beta of 0.54. The stock’s 50 day moving average price is $28.33 and its 200 day moving average price is $31.93. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. BCE has a 52 week low of $22.51 and a 52 week high of $41.77.

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 issued a $0.737 dividend. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.95 annualized dividend and a yield of 12.87%. BCE’s dividend payout ratio is 4,214.29%.

Institutional Trading of BCE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its stake in shares of BCE by 121.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 675 shares during the period. Brown Brothers Harriman & Co. bought a new stake in BCE during the third quarter worth about $51,000. Bruce G. Allen Investments LLC increased its holdings in shares of BCE by 321.0% during the third 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 in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of BCE in the 3rd quarter worth approximately $65,000. Finally, Fairscale Capital LLC acquired a new stake in BCE during the 2nd quarter valued at $76,000. Institutional investors own 41.46% 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 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.