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

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

A number of other research analysts also recently issued reports on BCE. TD Securities upped their price target on BCE from C$31.00 to C$33.00 and gave the company a “hold” rating in a report on Friday. Canaccord Genuity Group lifted their target price on BCE from C$33.00 to C$33.50 and gave the stock a “hold” rating in a report on Friday. Royal Bank of Canada lowered their price objective on BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut 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. Finally, National Bankshares decreased their target price on BCE from C$37.00 to C$35.00 and set a “sector perform” rating for the company in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$40.42.

BCE Stock Performance

TSE: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 12 month low of C$31.43 and a 12 month high of C$52.01. The firm has a 50 day moving average of C$34.53 and a 200-day moving average of C$41.31. The company has a debt-to-equity ratio of 197.43, a quick ratio of 0.43 and a current ratio of 0.65. The firm has a market cap of C$29.10 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48.

BCE (TSE:BCE) (NYSE:BCE) last released its quarterly earnings results on Thursday, November 7th. The company reported C$0.75 EPS 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 quarter in the previous year, the business earned $0.81 EPS. Research analysts expect that BCE will post 3.1120864 EPS for the current fiscal year.

About BCE

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.