BCE (TSE:BCE) Given New C$38.00 Price Target at Canadian Imperial Bank of Commerce

BCE (TSE:BCE) (NYSE:BCE) had its price objective dropped by equities researchers at Canadian Imperial Bank of Commerce from C$39.00 to C$38.00 in a report released on Thursday, BayStreet reports. The brokerage presently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price target would suggest a potential upside of 33.99% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on BCE. Scotia lifted their target price on BCE from C$39.00 to C$40.00 and gave the stock a “sector outperform” rating in a report on Friday, August 7th. Canaccord Genuity Group reduced their price objective on shares of BCE from C$35.00 to C$33.00 and set a “hold” rating for the company in a research report on Friday, July 10th. National Bank Financial dropped their target price on shares of BCE from C$38.00 to C$36.00 and set an “outperform” rating on the stock in a research report on Thursday, October 1st. Raymond James Financial set a C$37.00 target price on shares of BCE and gave the stock a “market perform” rating in a research note on Thursday, July 16th. Finally, Scotiabank reduced their price target on shares of BCE from C$41.00 to C$39.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, BCE presently has an average rating of “Moderate Buy” and an average target price of C$37.38.

BCE Trading Up 0.6%

BCE stock traded up C$0.17 during midday trading on Thursday, hitting C$28.36. The stock had a trading volume of 1,863,767 shares, compared to its average volume of 4,227,276. The company has a current ratio of 0.73, a quick ratio of 0.43 and a debt-to-equity ratio of 175.06. The firm has a market cap of C$26.45 billion, a P/E ratio of 4.21, a price-to-earnings-growth ratio of 4.67 and a beta of 0.37. The business has a fifty day moving average price of C$31.34 and a two-hundred day moving average price of C$32.27. BCE has a 1-year low of C$27.75 and a 1-year high of C$36.25.

BCE (TSE:BCE) (NYSE:BCE) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.65 earnings per share for the quarter. BCE had a return on equity of 27.73% and a net margin of 25.89%.The firm had revenue of C$6.18 billion during the quarter. On average, sell-side analysts predict that BCE will post 3.1120864 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BCE news, Director Louis Vachon purchased 10,000 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was acquired at an average price of C$30.63 per share, for a total transaction of C$306,300.00. Following the purchase, the director owned 100,000 shares of the company’s stock, valued at C$3,063,000. This trade represents a 11.11% increase in their position. Company insiders own 0.02% of the company’s stock.

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.