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

BCE (TSE:BCE) (NYSE:BCE) had its price target reduced by investment analysts at Desjardins from C$41.00 to C$40.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 16.08% from the company’s previous close.

Other analysts have also issued reports about the stock. Royal Bank Of Canada raised shares of BCE from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$35.00 to C$47.00 in a research report on Wednesday, October 15th. CIBC upgraded BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, December 9th. Scotiabank dropped their price objective on BCE from C$40.75 to C$40.25 and set an “outperform” rating for the company in a report on Tuesday, January 20th. TD Securities reduced their target price on BCE from C$39.00 to C$38.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Barclays upgraded BCE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$37.85.

BCE Trading Down 1.6%

Shares of TSE:BCE traded down C$0.57 during trading on Friday, hitting C$34.46. The company had a trading volume of 3,622,131 shares, compared to its average volume of 3,745,172. The stock has a market cap of C$31.77 billion, a price-to-earnings ratio of 5.17, a price-to-earnings-growth ratio of 4.67 and a beta of 0.47. The company has a debt-to-equity ratio of 226.73, a current ratio of 0.62 and a quick ratio of 0.43. The company has a fifty day simple moving average of C$33.01 and a two-hundred day simple moving average of C$33.06. BCE has a one year low of C$28.73 and a one year high of C$36.59.

BCE (TSE:BCE) (NYSE:BCE) last released its earnings results on Thursday, November 6th. The company reported C$0.79 earnings per share for the quarter. The firm had revenue of C$6.05 billion for the quarter. BCE had a return on equity of 1.39% and a net margin of 1.10%. As a group, equities analysts forecast that BCE will post 3.1120864 earnings per share for the current year.

About BCE

Bell Media is Canada’s leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media. This includes Canada’s most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada’s cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec’s fast-growing conventional French-language network, Noovo; the country’s leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services.