National Bank Financial Predicts Stronger Earnings for BCE

BCE Inc. (NYSE:BCE) (TSE:BCE) – Investment analysts at National Bank Financial upped their FY2024 earnings per share 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 of $2.12 per share 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.

BCE has been the topic of a number of other reports. Barclays lowered their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. BMO Capital Markets raised their target price on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, September 19th. Canaccord Genuity Group cut 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 note on Tuesday, November 5th. Finally, Edward Jones cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BCE presently has an average rating of “Hold” and a consensus price target of $45.00.

BCE Stock Down 1.4 %

BCE stock opened at $22.84 on Monday. The stock has a market cap of $20.84 billion, a P/E ratio of 326.29, a P/E/G ratio of 4.04 and a beta of 0.54. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The stock’s fifty day simple moving average is $28.53 and its two-hundred day simple moving average is $32.01. BCE has a 1-year low of $22.51 and a 1-year high of $41.77.

Hedge Funds Weigh In On BCE

Large investors have recently modified their holdings of the company. National Bank of Canada FI lifted its stake in BCE by 4.8% in the 3rd quarter. National Bank of Canada FI now owns 18,873,961 shares of the utilities provider’s stock worth $656,421,000 after purchasing an additional 864,472 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of BCE by 48.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock valued at $123,877,000 after purchasing an additional 1,166,800 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of BCE by 130.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 293,427 shares of the utilities provider’s stock worth $10,200,000 after purchasing an additional 165,881 shares during the period. Barclays PLC raised its position in shares of BCE by 78.5% in the third quarter. Barclays PLC now owns 120,462 shares of the utilities provider’s stock worth $4,192,000 after buying an additional 52,966 shares in the last quarter. Finally, Unigestion Holding SA bought a new stake in BCE during the third quarter valued at $3,094,000. 41.46% of the stock is currently owned by institutional investors.

BCE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.91%. This is an increase 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 presently 4,214.29%.

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.