Cormark's Updated Earnings Forecast for BCE in FY2025

BCE Inc. (NYSE:BCE - Free Report) (TSE:BCE) has received an upward revision in its expected earnings per share (EPS) for the fiscal year 2025. This adjustment was made by equities research analysts at Cormark, who released their report on November 5th. Analyst D. Mcfadgen now anticipates that BCE will achieve an EPS of $2.28 for the year, an increase from the previous estimate of $2.20. Currently, the consensus expectation for BCE's full-year earnings stands at $2.20 per share.

In addition to Cormark, several other analysts have also recently provided updates regarding BCE's stock. On September 19th, BMO Capital Markets raised their price target for BCE shares from $48.00 to $51.00, maintaining a "market perform" rating. On the other hand, Canaccord Genuity Group confirmed a "hold" rating for BCE shares in their latest report. Similarly, Edward Jones downgraded BCE from a "buy" rating to a "hold" rating, while National Bank Financial also shifted its view, moving from a "strong-buy" to a "hold" rating. Notably, on August 2nd, CIBC World Markets upgraded BCE from a "hold" to a "strong-buy" rating. Currently, the stock has been rated as a hold by nine investment analysts, with one rating it as a buy and another assigning a strong-buy rating. According to MarketBeat, the stock's consensus rating remains a "Hold" with a price target averaging $46.33.

BCE Stock Performance

As of Wednesday, BCE stock opened at $28.84, reflecting a market capitalization of approximately $26.31 billion. The stock holds a price-to-earnings (PE) ratio of 18.14, and a price-to-earnings growth (PEG) ratio of 5.36. It has exhibited a beta of 0.59. Over the past year, the stock reached a low of $28.64 and a high of $41.77. The moving averages stand at $34.00 for the 50-day and $33.68 for the 200-day periods. Financially, the company has a current ratio of 0.65, a quick ratio of 0.62, and a rather high debt-to-equity ratio of 2.00.

Institutional Investments in BCE

Institutional investors and hedge funds have been active in adjusting their positions in BCE recently. Intact Investment Management Inc. significantly increased its stake in BCE by 66.4% during the third quarter, now holding 1,360,980 shares valued at approximately $47.32 million after acquiring an additional 543,320 shares. Pathway Financial Advisers LLC made a dramatic rise, amplifying its stake by 3,355.4% in the same quarter, thereby owning 1,852,025 shares worth about $64.45 million after a substantial purchase. Additionally, CIBC Asset Management Inc. increased its holdings by 23.8%, now owning 5,520,090 shares valued at roughly $178.68 million. Creative Planning also boosted its stake in BCE by 116.0%, bringing its total to 56,099 shares. Furthermore, &PARTNERS entered the mix with a new position valued at $298,000. Currently, around 41.46% of BCE's stock is held by institutional and other hedge funds.

About BCE Inc.

BCE Inc. is a prominent communications company based in Canada, delivering various services including wireless, wireline, internet, and television (TV) to residential, business, and wholesale customers. The company operates through two key segments: Bell Communication and Technology Services, and Bell Media. Its Bell Communication and Technology Services segment offers a range of wireless products, mobile data services, voice plans, and multiple wireline products, which encompass data access, internet protocol television, cloud-based services, business solutions, as well as voice services.

BCE, Earnings, Forecast