Brokers Set Expectations for BCE’s Q3 Earnings (TSE:BCE)

BCE Inc. (TSE:BCE) (NYSE:BCE) – Equities researchers at Desjardins lowered their Q3 2024 earnings estimates for BCE in a research note issued to investors on Tuesday, November 5th. Desjardins analyst J. Dubreuil now anticipates that the company will earn $0.77 per share for the quarter, down from their previous forecast of $0.80. Desjardins currently has a “Hold” rating and a $51.00 target price on the stock. The consensus estimate for BCE’s current full-year earnings is $3.11 per share. Desjardins also issued estimates for BCE’s Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.97 EPS and FY2025 earnings at $2.92 EPS.

Several other brokerages have also issued reports on BCE. Barclays lowered their price target on shares of BCE from C$48.00 to C$46.00 in a research note on Wednesday, October 9th. Cormark reduced their price target on BCE from C$53.00 to C$52.00 in a research report on Friday, August 2nd. National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. National Bankshares dropped their price target on BCE from C$48.00 to C$42.00 in a research note on Tuesday. Finally, BMO Capital Markets increased their price objective on BCE from C$48.00 to C$51.00 in a research note on Thursday, September 19th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, BCE has a consensus rating of “Hold” and an average target price of C$47.23.

BCE Price Performance

Shares of BCE stock opened at C$38.94 on Thursday. The firm’s 50 day moving average price is C$46.32 and its two-hundred day moving average price is C$45.95. The stock has a market cap of C$35.52 billion, a PE ratio of 18.01, a PEG ratio of 4.67 and a beta of 0.48. BCE has a 52-week low of C$37.81 and a 52-week high of C$56.18. The company has a debt-to-equity ratio of 197.43, a quick ratio of 0.43 and a current ratio of 0.65.

BCE Cuts Dividend

The business 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 $0.9975 dividend. This represents a $3.99 dividend on an annualized basis and a dividend yield of 10.25%. 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.