What is Scotiabank’s Estimate for BCE FY2024 Earnings?

BCE Inc. (TSE:BCE) (NYSE:BCE) – Analysts at Scotiabank lowered their FY2024 earnings estimates for shares of BCE in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst M. Yaghi now anticipates that the company will earn $3.06 per share for the year, down from their previous forecast of $3.07. The consensus estimate for BCE’s current full-year earnings is $3.11 per share.

BCE has been the subject of several other reports. Canaccord Genuity Group reduced their target price on BCE from C$37.50 to C$33.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of BCE from C$41.00 to C$35.00 and set a “neutral” rating on the stock in a report on Thursday, January 2nd. Barclays cut their target price on shares of BCE from C$46.00 to C$41.00 in a research note on Monday, November 11th. Royal Bank of Canada decreased their price target on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 18th. Finally, BMO Capital Markets boosted their price objective on BCE from C$48.00 to C$51.00 in a research note on Thursday, September 19th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$41.88.

BCE Stock Performance

Shares of BCE stock opened at C$33.69 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 197.43. BCE has a 12-month low of C$31.99 and a 12-month high of C$56.18. The business’s 50 day moving average is C$36.48 and its two-hundred day moving average is C$42.74. The company has a market capitalization of C$30.73 billion, a P/E ratio of 15.67, a P/E/G ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be paid a $0.9975 dividend. This represents a $3.99 dividend on an annualized basis and a dividend yield of 11.84%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio (DPR) is presently 185.58%.

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.