Equities Analysts Set Expectations for BCE Inc.’s Q2 2024 Earnings (NYSE:BCE)

BCE Inc. (NYSE:BCE) (TSE:BCE) – Equities research analysts at Zacks Research reduced their Q2 2024 earnings estimates for shares of BCE in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now forecasts that the utilities provider will earn $0.57 per share for the quarter, down from their previous forecast of $0.59. The consensus estimate for BCE’s current full-year earnings is $2.21 per share. Zacks Research also issued estimates for BCE’s Q3 2024 earnings at $0.57 EPS, Q4 2024 earnings at $0.53 EPS, FY2024 earnings at $2.20 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.60 EPS, FY2025 earnings at $2.28 EPS, Q1 2026 earnings at $0.57 EPS and FY2026 earnings at $2.42 EPS.

Other research analysts have also recently issued reports about the company. Argus cut BCE from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. TD Securities cut shares of BCE from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays dropped their target price on shares of BCE from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. CIBC upgraded BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, April 23rd. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $46.00 price objective (down previously from $54.00) on shares of BCE in a report on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $49.00.

BCE Stock Down 0.6 %

BCE stock opened at $33.58 on Thursday. BCE has a 1-year low of $31.82 and a 1-year high of $46.58. The stock has a market cap of $30.63 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 5.39 and a beta of 0.55. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 1.87. The company’s 50 day moving average is $33.42 and its 200 day moving average is $37.09.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. BCE had a return on equity of 16.86% and a net margin of 7.53%. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.47 billion.

Institutional Trading of BCE

Hedge funds have recently modified their holdings of the business. JCIC Asset Management Inc. lifted its position in BCE by 26.5% during the 4th quarter. JCIC Asset Management Inc. now owns 1,189 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 249 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of BCE by 0.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 31,420 shares of the utilities provider’s stock worth $1,238,000 after purchasing an additional 274 shares in the last quarter. L.M. Kohn & Company grew its stake in shares of BCE by 2.3% in the 3rd quarter. L.M. Kohn & Company now owns 13,629 shares of the utilities provider’s stock worth $520,000 after buying an additional 300 shares during the last quarter. Cape Investment Advisory Inc. increased its position in BCE by 84.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 659 shares of the utilities provider’s stock valued at $26,000 after buying an additional 301 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in BCE by 0.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 52,805 shares of the utilities provider’s stock valued at $2,016,000 after buying an additional 311 shares in the last quarter. Institutional investors own 41.46% of the company’s stock.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.738 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.79%. The ex-dividend date of this dividend is Friday, June 14th. BCE’s payout ratio is presently 204.86%.

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.