BCE (NYSE:BCE) Releases FY 2024 Earnings Guidance

BCE (NYSE:BCE) (TSE:BCE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.180-2.300 for the period, compared to the consensus EPS estimate of 2.170. The company issued revenue guidance of $17.8 billion-$17.8 billion, compared to the consensus revenue estimate of $17.8 billion.

BCE Price Performance

NYSE BCE traded down $1.31 during trading hours on Thursday, hitting $27.43. 1,438,215 shares of the company’s stock traded hands, compared to its average volume of 2,252,134. The company has a market capitalization of $25.02 billion, a PE ratio of 18.08, a PEG ratio of 5.36 and a beta of 0.59. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.65 and a quick ratio of 0.62. BCE has a 52-week low of $27.29 and a 52-week high of $41.77. The firm’s 50-day moving average is $33.87 and its 200-day moving average is $33.64.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BMO Capital Markets lifted their price objective on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, September 19th. Barclays dropped their price objective on shares of BCE from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Edward Jones downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.33.

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.