BCE Inc. (TSE:BCE) Expected to Earn FY2024 Earnings of $2.98 Per Share

BCE Inc. (TSE:BCE) (NYSE:BCE) – Investment analysts at National Bank Financial lowered their FY2024 EPS estimates for BCE in a research note issued on Monday, September 30th. National Bank Financial analyst A. Shine now expects that the company will post earnings of $2.98 per share for the year, down from their previous forecast of $3.02. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for BCE’s current full-year earnings is $3.06 per share.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada upped their target price on shares of BCE from C$51.00 to C$53.00 in a report on Thursday, September 19th. BMO Capital Markets upped their price objective on BCE from C$48.00 to C$51.00 in a research note on Thursday, September 19th. TD Securities lifted their target price on BCE from C$47.00 to C$48.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Cormark cut their price target on BCE from C$53.00 to C$52.00 in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on BCE from C$46.00 to C$47.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, BCE has an average rating of “Hold” and a consensus target price of C$50.83.

BCE Price Performance

TSE BCE opened at C$47.00 on Wednesday. The company has a 50-day moving average price of C$47.22 and a 200-day moving average price of C$46.08. BCE has a 52 week low of C$42.58 and a 52 week high of C$56.18. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43. The firm has a market capitalization of C$42.88 billion, a P/E ratio of 21.86, a PEG ratio of 1.90 and a beta of 0.48.

BCE (TSE:BCE) (NYSE:BCE) last announced its earnings results on Thursday, August 1st. The company reported C$0.78 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.80 by C($0.02). The company had revenue of C$6.01 billion for the quarter, compared to analysts’ expectations of C$6.07 billion. BCE had a net margin of 8.75% and a return on equity of 10.63%.

BCE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be issued a $0.998 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.99 dividend on an annualized basis and a yield of 8.49%. BCE’s dividend payout ratio is presently 185.58%.

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.