BCE (NYSE:BCE) Updates FY 2024 Earnings Guidance

BCE (NYSE:BCE) (TSE:BCE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.180-2.300 for the period, compared to the consensus earnings per share estimate of 2.170. The company issued revenue guidance of $18.0 billion-$18.8 billion, compared to the consensus revenue estimate of $17.9 billion.

BCE Stock Up 0.5 %

BCE stock opened at $33.73 on Thursday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.61 and a quick ratio of 0.57. The stock has a market capitalization of $30.77 billion, a P/E ratio of 23.42, a P/E/G ratio of 5.61 and a beta of 0.57. The business has a 50-day moving average of $33.05 and a 200-day moving average of $34.85. BCE has a fifty-two week low of $31.13 and a fifty-two week high of $43.53.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. BCE had a return on equity of 16.86% and a net margin of 7.53%. On average, sell-side analysts anticipate that BCE will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BCE has been the topic of several recent research reports. BMO Capital Markets raised their price objective on BCE from $46.00 to $47.00 and gave the company a market perform rating in a report on Wednesday, June 12th. CIBC raised BCE from a neutral rating to a sector outperform rating in a research report on Tuesday, April 23rd. Finally, Barclays cut their price target on BCE from $38.00 to $35.00 and set an equal weight rating for the company in a research note on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, BCE presently has a consensus rating of Hold and an average price target of $45.33.

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.