BCE (NYSE:BCE) Releases FY24 Earnings Guidance

BCE (NYSE:BCE) (TSE:BCE) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.99 to $3.15 for the period, compared to the consensus EPS estimate of $2.23. The company issued revenue guidance of $24.67 billion to $25.66 billion, compared to the consensus revenue estimate of $18.21 billion.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BCE. Barclays cut their target price on BCE from $38.00 to $35.00 and set an equal weight rating for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. cut their target price on BCE from $58.00 to $54.00 and set a neutral rating for the company in a research report on Friday, February 9th. CIBC upgraded BCE from a neutral rating to a sector outperform rating in a research report on Tuesday, April 23rd. TD Securities downgraded BCE from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, Argus downgraded BCE from a buy rating to a hold rating in a research report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, BCE currently has a consensus rating of Hold and an average price target of $49.00.

BCE Trading Up 1.2 %

NYSE BCE opened at $33.26 on Thursday. The business has a 50 day simple moving average of $34.30 and a 200 day simple moving average of $37.56. BCE has a one year low of $31.82 and a one year high of $48.29. The stock has a market capitalization of $30.34 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.39 and a beta of 0.56. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.65 and a quick ratio of 0.61.

BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Thursday, February 8th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. BCE had a return on equity of 17.13% and a net margin of 8.82%. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Research analysts expect that BCE will post 2.25 earnings per share for the current year.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a dividend of $0.742 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.97 annualized dividend and a yield of 8.92%. This is a boost from BCE’s previous quarterly dividend of $0.70. BCE’s dividend payout ratio (DPR) is currently 174.56%.

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.