Cormark's Updated Earnings Forecast for BCE in FY2025

BCE Inc. (NYSE:BCE - Free Report) (TSE:BCE) has recently received an updated earnings forecast from Cormark. In a report released on Tuesday, November 5th, Cormark equity research analyst D. Mcfadgen made an adjustment to the earnings per share (EPS) estimate for BCE's fiscal year 2025. The revised expectation is for BCE to achieve an EPS of $2.28, which shows an increase from their prior estimate of $2.20. Currently, the consensus estimate for the full-year earnings for BCE stands at $2.20 per share.

In addition to Cormark's update, other equity research firms have also shared their insights on BCE. BMO Capital Markets raised its price target for BCE shares from $48.00 to $51.00 while assigning a 'market perform' rating in a research report published on Thursday, September 19th. Meanwhile, Canaccord Genuity Group reiterated a 'hold' rating on BCE shares in their report released on Tuesday. On the other hand, Edward Jones decided to downgrade BCE from a 'buy' rating to a 'hold' rating in a report issued on the same day. Additionally, National Bank Financial lowered BCE from a 'strong-buy' rating to a 'hold' rating in a report published on Monday, September 30th. Conversely, CIBC World Markets upgraded BCE from a 'hold' rating to a 'strong-buy' rating as per their report on Friday, August 2nd. Overall, the investment community views BCE with a mix of ratings; nine analysts recommend holding the stock, one gives a buy rating, and one labels it a strong buy. According to MarketBeat, the current ratings average out to a consensus rating of 'Hold,' alongside a price target set at $46.33.

Market Performance of BCE

BCE opened trading at $28.84 on Wednesday. The company has a market capitalization of $26.31 billion. With a price-to-earnings (P/E) ratio of 18.14 and a PEG ratio of 5.36, BCE’s stock performance over the past year has seen a low of $28.64 and a high of $41.77. The stock’s 50-day and 200-day moving averages are $34.00 and $33.68, respectively. BCE’s liquidity is indicated by a current ratio of 0.65, a quick ratio of 0.62, and a debt-to-equity ratio of 2.00.

Institutional Stake Movements

Recently, changes in institutional investments have been noted regarding BCE. Intact Investment Management Inc. increased its stake in BCE by an impressive 66.4% during the third quarter, now holding 1,360,980 shares valued at around $47.32 million after adding 543,320 shares. Pathway Financial Advisers LLC significantly boosted its position by 3,355.4%, owning 1,852,025 shares worth approximately $64.45 million following a purchase of 1,798,427 shares in the last quarter. Furthermore, CIBC Asset Management Inc. expanded its investment by 23.8%, owning 5,520,090 shares valued at $178.68 million after acquiring an additional 1,061,488 shares. Notably, Creative Planning's stake in BCE grew by 116.0% in the second quarter, with 56,099 shares now valued at $1.82 million. Lastly, &PARTNERS also entered BCE by acquiring a new stake worth about $298,000. Approximately 41.46% of BCE's shares are presently owned by institutional investors and hedge funds.

BCE Overview

BCE Inc. operates as a prominent communications company in Canada, providing a range of services including wireless, wireline, internet, and television to residential, business, and wholesale customers. The company branches its operations into two segments: Bell Communication and Technology Services, and Bell Media. The former segment encompasses wireless products and services such as mobile data and voice plans, as well as wireline offerings including data services, internet protocol television, and satellite TV service.

Conclusion

As the earnings forecast for BCE progresses towards FY2025, analysts remain keenly aware of market dynamics and institutional movements that may impact the utility provider’s performance. Continuous evaluations from different research firms reflect varying perspectives on the company's future stock performance.

BCE, Earnings, Forecast, Stocks, Investment