By otakuyassine3@gmail.com 
BCE Inc. (NYSE:BCE – Free Report) (TSE:BCE) – Cormark decreased their FY2024 earnings per share 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 previous estimate 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.
Other equities analysts have also issued research reports about the company. Morgan Stanley assumed coverage on BCE in a research note on Monday, December 16th. They set an “underweight” rating on the stock. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group lowered BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Bank of America lowered BCE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 14th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, seven have issued 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 stock currently has an average rating of “Hold” and an average target price of $45.00.
Check Out Our Latest Stock Analysis on BCE
BCE Stock Performance
NYSE BCE opened at $24.39 on Wednesday. The stock’s fifty day moving average is $24.26 and its two-hundred day moving average is $29.95. The firm has a market capitalization of $22.25 billion, a P/E ratio of 348.36, a price-to-earnings-growth ratio of 3.94 and a beta of 0.57. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. BCE has a fifty-two week low of $21.87 and a fifty-two week high of $39.73.
BCE Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were paid a dividend of $0.737 per share. This is a positive change from BCE’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, December 16th. This represents a $2.95 annualized dividend and a yield of 12.09%. BCE’s dividend payout ratio is presently 4,028.57%.
Hedge Funds Weigh In On BCE
Hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 790 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 675 shares during the period. Blue Trust Inc. increased its holdings in BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,285 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in BCE during the 3rd quarter worth about $51,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of 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 acquiring an additional 1,268 shares during the last quarter. Institutional investors and hedge funds own 41.46% of the company’s stock.
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.
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