BCE (NYSE:BCE) Updates FY 2024 Earnings Guidance

by · The Markets Daily

BCE (NYSE:BCE – Get Free Report) (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 $17.8 billion-$17.8 billion, compared to the consensus revenue estimate of $17.8 billion.

BCE Stock Performance

BCE stock traded down $1.31 during trading on Thursday, reaching $27.43. The company had a trading volume of 1,438,215 shares, compared to its average volume of 2,252,134. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.62 and a current ratio of 0.65. BCE has a twelve month low of $27.29 and a twelve month high of $41.77. The company has a market cap of $25.02 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 5.36 and a beta of 0.59. The firm has a 50-day simple moving average of $33.87 and a 200-day simple moving average of $33.64.

Wall Street Analyst Weigh In

BCE has been the subject of a number of research reports. Barclays lowered their price target on BCE from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Edward Jones cut shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday. Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, BMO Capital Markets lifted their price target on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.33.

View Our Latest Report on BCE

About BCE

(Get Free Report)

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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