Desjardins Forecasts BCE’s FY2024 Earnings (NYSE:BCE)

BCE Inc. (NYSE:BCE) (TSE:BCE) – Desjardins lowered their FY2024 EPS estimates for shares of BCE in a research note issued on Tuesday, November 5th. Desjardins analyst J. Dubreuil now expects that the utilities provider will earn $2.14 per share for the year, down from their prior estimate of $2.17. The consensus estimate for BCE’s current full-year earnings is $2.20 per share. Desjardins also issued estimates for BCE’s FY2025 earnings at $2.10 EPS.

A number of other analysts also recently issued reports on BCE. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday. Cibc World Mkts upgraded shares of BCE from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays cut their price target on shares of BCE from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Finally, BMO Capital Markets lifted their target price on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.33.

BCE Stock Down 0.3 %

Shares of NYSE BCE opened at $28.74 on Wednesday. The company has a 50 day simple moving average of $33.87 and a 200-day simple moving average of $33.64. The company has a market capitalization of $26.22 billion, a P/E ratio of 18.08, a P/E/G ratio of 5.36 and a beta of 0.59. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.65 and a quick ratio of 0.62. BCE has a 1 year low of $28.26 and a 1 year high of $41.77.

Hedge Funds Weigh In On BCE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ESL Trust Services LLC purchased a new position in BCE in the 1st quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV boosted its position in BCE by 3,480.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock valued at $35,000 after buying an additional 1,044 shares during the period. Hexagon Capital Partners LLC boosted its position in 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 buying an additional 675 shares during the period. Brown Lisle Cummings Inc. boosted its position in BCE by 60.0% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after buying an additional 600 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its position in BCE by 321.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after buying an additional 1,268 shares during the period. Hedge funds and other 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.