BCE (TSE:BCE) Price Target Cut to C$53.00 by Analysts at Scotiabank

BCE (TSE:BCE) (NYSE:BCE) had its price target decreased by analysts at Scotiabank from C$53.25 to C$53.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 15.32% from the company’s current price.

A number of other research firms also recently weighed in on BCE. TD Securities decreased their target price on shares of BCE from C$48.00 to C$47.00 and set a “hold” rating for the company in a research report on Friday. Royal Bank of Canada decreased their price objective on shares of BCE from C$57.00 to C$54.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 10th. Canaccord Genuity Group dropped their target price on shares of BCE from C$57.00 to C$55.00 and set a “buy” rating on the stock in a report on Friday, February 9th. BMO Capital Markets downgraded BCE from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$54.00 to C$46.00 in a report on Tuesday, April 2nd. Finally, National Bankshares dropped their price objective on BCE from C$55.00 to C$53.00 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$52.15.

BCE Stock Performance

Shares of BCE stock opened at C$45.96 on Friday. The stock has a market cap of C$41.93 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 1.90 and a beta of 0.44. The company has a quick ratio of 0.43, a current ratio of 0.61 and a debt-to-equity ratio of 184.91. BCE has a twelve month low of C$43.96 and a twelve month high of C$64.48. The company’s fifty day moving average is C$46.42 and its 200 day moving average is C$50.83.

BCE (TSE:BCE) (NYSE:BCE) last released its quarterly earnings results on Thursday, February 8th. The company reported C$0.76 EPS for the quarter, beating analysts’ consensus estimates of C$0.73 by C$0.03. The firm had revenue of C$6.47 billion for the quarter, compared to analyst estimates of C$6.48 billion. BCE had a return on equity of 9.36% and a net margin of 7.88%. Sell-side analysts forecast that BCE will post 3.0296638 EPS for the current year.

BCE Company Profile

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.