Equities Analysts Offer Predictions for BCE FY2024 Earnings

BCE Inc. (TSE:BCE) (NYSE:BCE) – National Bank Financial boosted their FY2024 earnings per share estimates for BCE in a research report issued on Wednesday, December 18th. National Bank Financial analyst A. Shine now forecasts that the company will post earnings per share of $2.98 for the year, up from their prior estimate of $2.89. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for BCE’s current full-year earnings is $3.11 per share.

Several other equities research analysts also recently commented on the stock. Canaccord Genuity Group decreased their target price on shares of BCE from C$37.50 to C$33.00 and set a “hold” rating for the company in a research report on Thursday. Royal Bank of Canada decreased their price objective on BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a report on Wednesday. TD Securities dropped their target price on BCE from C$39.00 to C$37.00 and set a “hold” rating on the stock in a report on Tuesday, December 3rd. JPMorgan Chase & Co. cut their target price on BCE from C$47.00 to C$41.00 in a research report on Friday, November 8th. Finally, Canaccord Genuity Group lowered their price target on BCE from C$41.00 to C$37.50 in a research report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, BCE has an average rating of “Hold” and a consensus target price of C$43.38.

BCE Stock Performance

TSE BCE opened at C$33.28 on Friday. The company has a market cap of C$30.36 billion, a P/E ratio of 15.48, a PEG ratio of 4.67 and a beta of 0.48. The company has a fifty day simple moving average of C$39.90 and a 200 day simple moving average of C$44.02. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 197.43. BCE has a 12-month low of C$32.95 and a 12-month high of C$56.18.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.9975 per share. This represents a $3.99 dividend on an annualized basis and a dividend yield of 11.99%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s payout ratio is currently 185.58%.

About BCE

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.