Cormark Research Analysts Cut Earnings Estimates for BCE

BCE Inc. (NYSE:BCE) (TSE:BCE) – Stock analysts at Cormark cut their FY2024 earnings per share (EPS) estimates for BCE in a report released on Tuesday, February 4th. Cormark analyst D. Mcfadgen now expects that the utilities provider will post earnings of $2.01 per share for the year, down from their prior forecast of $2.10. The consensus estimate for BCE’s current full-year earnings is $2.10 per share. Cormark also issued estimates for BCE’s Q4 2024 earnings at $0.46 EPS and FY2025 earnings at $2.01 EPS.

Several other brokerages have also weighed in on BCE. Barclays reiterated an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Bank of America downgraded shares of BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Morgan Stanley began coverage on shares of BCE in a report on Monday, December 16th. They set an “underweight” rating for the company. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group cut BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, seven have assigned 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.00.

BCE Trading Up 2.5 %

BCE stock opened at $25.00 on Wednesday. The stock has a market cap of $22.81 billion, a PE ratio of 357.14, a P/E/G ratio of 3.94 and a beta of 0.57. BCE has a 52 week low of $21.87 and a 52 week high of $39.73. 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 has a 50-day moving average price of $24.22 and a 200 day moving average price of $29.89.

Institutional Trading of BCE

A number of large investors have recently added to or reduced their stakes in BCE. Caldwell Sutter Capital Inc. increased its stake in BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock worth $413,000 after purchasing an additional 445 shares in the last quarter. First Affirmative Financial Network grew its position in BCE by 6.1% during the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 472 shares in the last quarter. Prospera Financial Services Inc raised its stake in BCE by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 478 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of BCE by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after purchasing an additional 520 shares in the last quarter. Finally, FMR LLC boosted its position in shares of BCE by 6.8% in the third quarter. FMR LLC now owns 9,307 shares of the utilities provider’s stock worth $324,000 after buying an additional 596 shares during the period. 41.46% of the stock is currently owned by institutional investors.

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.