BCE Inc. (TSE:BCE, NYSE:BCE) has received an average recommendation of “Hold” from analysts covering the company, according to MarketBeat Ratings. This evaluation comes from twelve research firms, with two analysts issuing a sell rating, five maintaining a hold rating, four recommending a buy rating, and one firm giving a strong buy rating.
Analysts have provided insights into BCE’s stock performance and future expectations. The average one-year price target for BCE shares stands at C$36.23, reflecting a mix of optimistic and cautious perspectives.
Recent Analyst Ratings and Price Target Changes
On October 15, 2023, CIBC raised its price target for BCE from C$36.00 to C$37.00 while maintaining a “neutral” rating. This adjustment highlights a slight optimism for the stock’s near-term performance. In a separate report on August 12, National Bankshares set a target price of C$35.00, giving BCE an “outperform” rating, indicating confidence in the company’s growth potential.
Other adjustments include Desjardins, which increased its target price from C$41.00 to C$42.00, assigning a “sector perform” rating on November 7. The Royal Bank of Canada also upgraded BCE from a “sector perform” to an “outperform” rating, raising its price target from C$35.00 to C$47.00. Scotiabank further adjusted its target price from C$39.50 to C$41.50, maintaining an “outperform” rating on September 8.
BCE’s stock performance remains under scrutiny as analysts anticipate earnings for the current fiscal year to reach approximately 3.11 earnings per share (EPS).
Quarterly Earnings and Upcoming Dividend Announcement
BCE reported its latest quarterly earnings on November 6, 2023, announcing earnings per share of C$0.79. The company achieved a net margin of 1.10% and a return on equity of 1.39%, with total revenues of C$6.05 billion for the quarter. These figures illustrate BCE’s continued performance amidst a competitive telecommunications landscape.
In addition to earnings, BCE has declared a quarterly dividend of $0.4375, set to be paid on January 15, 2024. Shareholders on record as of the payment date will receive this dividend, translating to an annualized dividend of $1.75 and a yield of 5.4%. The ex-dividend date is scheduled for December 15, 2023, with a dividend payout ratio of 43.09%, indicating a balanced approach to returning value to shareholders while reinvesting in the business.
About BCE Inc.
BCE Inc. operates as a leading wireless and internet service provider in Canada, offering a range of services including broadband, television, and landline phone services. The company is one of the primary national wireless carriers, serving approximately 10 million customers and holding a market share of around 30%. BCE is also recognized as the incumbent local exchange carrier (ILEC) for much of eastern Canada, including key provinces like Ontario and Quebec.
As BCE navigates the evolving telecommunications market, analysts will continue to monitor its performance and strategic moves in the coming quarters.
