Desjardins Weighs in on BCE’s Q3 Earnings (NYSE:BCE)

BCE Inc. (NYSE:BCE) (TSE:BCE) – Equities researchers at Desjardins reduced their Q3 2024 earnings per share estimates for shares of BCE in a note issued to investors on Tuesday, November 5th. Desjardins analyst J. Dubreuil now anticipates that the utilities provider will earn $0.55 per share for the quarter, down from their prior forecast of $0.58. The consensus estimate for BCE’s current full-year earnings is $2.20 per share. Desjardins also issued estimates for BCE’s Q4 2024 earnings at $0.50 EPS.

Other research analysts have also issued reports about the company. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research report on Tuesday. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a report on Tuesday. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, BMO Capital Markets boosted their target price on shares of BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. Nine investment 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. According to data from MarketBeat, BCE currently has a consensus rating of “Hold” and an average target price of $46.33.

BCE Price Performance

Shares of NYSE:BCE opened at $28.09 on Thursday. The business’s fifty day moving average price is $33.87 and its two-hundred day moving average price is $33.64. The stock has a market cap of $25.63 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 4.87 and a beta of 0.59. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65. BCE has a one year low of $27.29 and a one year high of $41.77.

Institutional Trading of BCE

Institutional investors and hedge funds have recently made changes to their positions in the company. ESL Trust Services LLC acquired a new position in BCE in the 1st quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of BCE by 3,480.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 1,044 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in BCE by 121.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after buying an additional 675 shares during the last quarter. Brown Lisle Cummings Inc. increased its holdings in BCE by 60.0% during the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock worth $52,000 after buying an additional 600 shares during the last quarter. Finally, Bruce G. Allen Investments LLC increased its holdings in 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 during the last quarter. 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.