Scotiabank Lowers BCE (TSE:BCE) Price Target to C$40.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective dropped by research analysts at Scotiabank from C$42.00 to C$40.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 25.39% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Canaccord Genuity Group cut their price objective on shares of BCE from C$41.00 to C$37.50 in a research report on Friday, November 8th. TD Securities lifted their target price on BCE from C$31.00 to C$33.00 and gave the stock a “hold” rating in a research report on Friday. JPMorgan Chase & Co. lowered shares of BCE from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from C$35.00 to C$29.00 in a research note on Friday. Royal Bank of Canada decreased their price objective on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group upped their target price on shares of BCE from C$33.00 to C$33.50 and gave the company a “hold” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$40.42.

BCE Price Performance

BCE traded down C$1.80 during trading on Friday, reaching C$31.90. The company’s stock had a trading volume of 5,331,610 shares, compared to its average volume of 3,993,007. BCE has a 1 year low of C$31.43 and a 1 year high of C$52.01. The company has a market cap of C$29.10 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 4.67 and a beta of 0.48. The firm has a fifty day simple moving average of C$34.53 and a two-hundred day simple moving average of C$41.31. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43.

BCE (TSE:BCE) (NYSE:BCE) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.75 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.77 by C($0.02). BCE had a net margin of 8.75% and a return on equity of 10.63%. During the same period last year, the firm earned $0.81 earnings per share. As a group, analysts anticipate that BCE will post 3.1120864 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.