Royal Bank of Canada Increases BCE (BCE) Price Target to C$60.00

Posted by Stephan Byrd on Feb 10th, 2019 // No Comments

BCE (TSE:BCE) (NYSE:BCE) had its price objective raised by stock analysts at Royal Bank of Canada from C$59.00 to C$60.00 in a note issued to investors on Friday. Royal Bank of Canada’s target price would suggest a potential upside of 4.64% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of BCE from C$59.00 to C$60.00 in a research note on Thursday, November 29th. Barclays reduced their price objective on shares of BCE from C$65.00 to C$62.00 in a research note on Friday, November 2nd. Desjardins upgraded shares of BCE from a “hold” rating to a “buy” rating and reduced their price objective for the stock from C$60.75 to C$59.50 in a research note on Thursday, October 18th. TD Securities reduced their price objective on shares of BCE from C$57.00 to C$56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 23rd. Finally, National Bank Financial downgraded shares of BCE from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$60.00 to C$58.00 in a research note on Friday, January 4th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of C$59.65.

Shares of BCE stock opened at C$57.34 on Friday. The stock has a market cap of $51.49 billion and a price-to-earnings ratio of 18.79. The company has a debt-to-equity ratio of 115.69, a quick ratio of 0.45 and a current ratio of 0.58. BCE has a 12-month low of C$50.72 and a 12-month high of C$57.70.

In other news, Director Michael Cole sold 75,850 shares of the firm’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of C$56.78, for a total value of C$4,306,763.00. Also, Director Robert Simmonds sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of C$18.67, for a total transaction of C$46,675.00. Over the last 90 days, insiders sold 85,821 shares of company stock worth $4,779,285.

BCE Company Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

Analyst Recommendations for BCE (TSE:BCE)

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