Cormark Cuts BCE (TSE:BCE) Price Target to C$53.00

BCE (TSE:BCE) (NYSE:BCE) had its price target cut by equities research analysts at Cormark from C$58.00 to C$53.00 in a report issued on Thursday, BayStreet.CA reports. Cormark’s price target suggests a potential upside of 19.56% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Canaccord Genuity Group dropped their price target on BCE from C$57.00 to C$55.00 and set a “buy” rating for the company in a research note on Friday, February 9th. JPMorgan Chase & Co. dropped their price target on BCE from C$54.00 to C$47.00 in a research note on Wednesday, April 3rd. BMO Capital Markets cut BCE from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$54.00 to C$46.00 in a research note on Tuesday, April 2nd. TD Securities dropped their price target on BCE from C$55.00 to C$51.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Finally, Desjardins dropped their price target on BCE from C$58.00 to C$55.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$52.48.

BCE Price Performance

TSE BCE traded down C$0.09 on Thursday, hitting C$44.33. 798,848 shares of the company’s stock were exchanged, compared to its average volume of 2,958,956. The stock has a 50-day moving average of C$47.78 and a 200-day moving average of C$51.34. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 175.98. BCE has a 52 week low of C$43.96 and a 52 week high of C$65.66. The stock has a market cap of C$40.44 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 1.90 and a beta of 0.44.

BCE (TSE:BCE) (NYSE:BCE) last released its earnings results on Thursday, February 8th. The company reported C$0.76 earnings per share for the quarter, topping the consensus estimate of C$0.73 by C$0.03. BCE had a return on equity of 10.81% and a net margin of 9.17%. The firm had revenue of C$6.47 billion during the quarter, compared to analysts’ expectations of C$6.48 billion. Analysts expect that BCE will post 3.0377747 earnings per share for the current 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.